Northwest & Ethical Investments L.P. Trims Stake in Biogen Inc. (NASDAQ:BIIB)

Northwest & Ethical Investments L.P. lessened its position in Biogen Inc. (NASDAQ:BIIB) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,428 shares of the biotechnology company’s stock after selling 1,139 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Biogen were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Biogen during the second quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the 3rd quarter worth about $33,000. Versant Capital Management Inc lifted its position in Biogen by 123.2% during the 2nd 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. Blue Trust Inc. boosted its stake in Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 127 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Biogen by 39.8% in the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BIIB shares. Oppenheimer lowered their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Mizuho lowered their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company cut their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Raymond James restated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average price target of $257.20.

Biogen Trading Up 0.5 %

Shares of NASDAQ:BIIB opened at $160.63 on Friday. The stock’s 50-day simple moving average is $177.86 and its two-hundred day simple moving average is $203.15. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.36 earnings per share. Analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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.