Biogen Inc. (NASDAQ:BIIB) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 75.9% in the second quarter, Holdings Channel.com reports. The firm owned 2,226 shares of the biotechnology company’s stock after selling 6,992 shares during the period. Levin Capital Strategies L.P.’s holdings in Biogen were worth $516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in shares of Biogen during the 4th quarter valued at approximately $26,000. Plato Investment Management Ltd boosted its stake in Biogen by 82.8% during 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. Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth $27,000. Versant Capital Management Inc increased 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 worth $36,000 after purchasing an additional 85 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Biogen in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BIIB shares. HC Wainwright reiterated a “buy” rating and issued a $300.00 price target on shares of Biogen in a research note on Thursday, May 23rd. Barclays decreased their target price on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Robert W. Baird dropped their price target on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.52.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $199.27 on Tuesday. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $269.43. The firm has a market capitalization of $29.03 billion, a PE ratio of 24.88, a P/E/G ratio of 2.03 and a beta of -0.06. The firm has a 50-day moving average price of $212.73 and a 200 day moving average price of $216.37. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

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

Biogen Company 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.