JNBA Financial Advisors trimmed its stake in Biogen Inc (NASDAQ:BIIB) by 70.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425 shares of the biotechnology company’s stock after selling 1,030 shares during the quarter. JNBA Financial Advisors’ holdings in Biogen were worth $150,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of BIIB. Anchor Capital Advisors LLC bought a new position in shares of Biogen in the third quarter valued at $16,260,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Biogen by 122.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 211 shares in the last quarter. V Wealth Management LLC bought a new position in shares of Biogen in the third quarter valued at $212,000. Capital Investment Advisory Services LLC bought a new position in shares of Biogen in the third quarter valued at $211,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Biogen by 2,188.6% in the third quarter. Acadian Asset Management LLC now owns 122,418 shares of the biotechnology company’s stock valued at $43,254,000 after buying an additional 117,069 shares in the last quarter. Institutional investors and hedge funds own 87.74% of the company’s stock.
A number of research firms recently weighed in on BIIB. ValuEngine lowered shares of Biogen from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. BidaskClub lowered shares of Biogen from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. HC Wainwright reissued a “buy” rating on shares of Biogen in a research report on Monday, July 9th. Oppenheimer set a $380.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Sunday, October 28th. Finally, Barclays raised their price target on shares of Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $383.01.
Shares of BIIB stock opened at $312.70 on Friday. The stock has a market capitalization of $63.00 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen Inc has a 52 week low of $249.17 and a 52 week high of $388.67.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, topping the consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.31 earnings per share. Research analysts predict that Biogen Inc will post 25.58 earnings per share for the current year.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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