B. Riley Wealth Advisors Inc. Sells 894 Shares of Biogen Inc. (NASDAQ:BIIB)

B. Riley Wealth Advisors Inc. cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 25.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,581 shares of the biotechnology company’s stock after selling 894 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Biogen were worth $598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in shares of Biogen during the fourth quarter valued at approximately $26,000. Plato Investment Management Ltd increased its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Rise Advisors LLC bought a new stake in shares of Biogen during the first quarter valued at approximately $27,000. Itau Unibanco Holding S.A. bought a new stake in Biogen in the second quarter valued at $33,000. Finally, Versant Capital Management Inc grew its position in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird reduced their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Wedbush reduced their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Finally, UBS Group cut their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.78.

Biogen Stock Up 0.5 %

NASDAQ:BIIB opened at $185.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The company has a market cap of $27.03 billion, a PE ratio of 23.18, a PEG ratio of 1.97 and a beta of -0.06. Biogen Inc. has a 52-week low of $183.56 and a 52-week high of $269.43. The stock has a 50-day simple moving average of $200.69 and a 200 day simple moving average of $212.83.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $4.02 earnings per share. On average, sell-side analysts expect that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.