Biogen Inc. (NASDAQ:BIIB) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 20.1% during the third quarter, Holdings Channel reports. The institutional investor owned 19,650 shares of the biotechnology company’s stock after selling 4,945 shares during the period. ING Groep NV’s holdings in Biogen were worth $3,809,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Plato Investment Management Ltd increased its holdings in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Biogen in the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC acquired a new stake in Biogen during the third quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new position in shares of Biogen in the 1st quarter valued at $36,000. Finally, Versant Capital Management Inc grew its position in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Biogen in a report on Wednesday, October 30th. Finally, Wedbush cut their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $258.96.

Biogen Stock Down 3.0 %

Biogen stock opened at $159.99 on Friday. The stock’s 50 day moving average price is $186.80 and its 200 day moving average price is $207.77. The company has a market cap of $23.31 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1-year low of $159.60 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company posted $4.36 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that Biogen Inc. will post 16.4 EPS for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction 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. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

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.