Atom Investors LP trimmed its holdings in Biogen Inc (NASDAQ:BIIB) by 63.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,876 shares of the biotechnology company’s stock after selling 20,871 shares during the quarter. Atom Investors LP’s holdings in Biogen were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in BIIB. Avantax Advisory Services Inc. acquired a new stake in shares of Biogen during the 1st quarter worth approximately $264,000. Sigma Planning Corp increased its stake in Biogen by 32.6% in the first quarter. Sigma Planning Corp now owns 1,579 shares of the biotechnology company’s stock valued at $500,000 after purchasing an additional 388 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Biogen during the first quarter valued at about $41,000. Asset Dedication LLC boosted its position in shares of Biogen by 228.6% during the 1st quarter. Asset Dedication LLC now owns 1,308 shares of the biotechnology company’s stock worth $413,000 after purchasing an additional 910 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its stake in shares of Biogen by 2.7% in the 1st quarter. TrinityPoint Wealth LLC now owns 2,660 shares of the biotechnology company’s stock valued at $841,000 after buying an additional 69 shares during the period. Institutional investors own 83.74% of the company’s stock.
Shares of NASDAQ BIIB traded down $0.15 during midday trading on Friday, hitting $276.00. 1,240,720 shares of the company’s stock were exchanged, compared to its average volume of 1,318,064. Biogen Inc has a 12-month low of $219.70 and a 12-month high of $374.99. The business’s fifty day moving average price is $282.89 and its two-hundred day moving average price is $296.30. The company has a market cap of $43.69 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.78 and a beta of 0.55. The company has a current ratio of 2.46, a quick ratio of 2.19 and a debt-to-equity ratio of 0.66.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $2.23. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Biogen had a return on equity of 50.10% and a net margin of 40.91%. During the same period in the prior year, the business earned $9.15 EPS. Equities analysts expect that Biogen Inc will post 35.4 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the company. Oppenheimer boosted their price objective on Biogen from $325.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Royal Bank of Canada restated a “hold” rating and set a $276.00 price target on shares of Biogen in a research note on Monday, July 6th. Mizuho reaffirmed a “hold” rating and issued a $316.00 price objective on shares of Biogen in a research note on Wednesday, July 22nd. Robert W. Baird decreased their target price on shares of Biogen from $290.00 to $228.00 and set an “underperform” rating for the company in a research report on Friday, June 19th. Finally, Barclays lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $370.00 to $280.00 in a research report on Monday, June 22nd. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $310.36.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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