FinTrust Capital Advisors LLC lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 59.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146 shares of the biotechnology company’s stock after selling 216 shares during the period. FinTrust Capital Advisors LLC’s holdings in Biogen were worth $41,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV acquired a new position in Biogen during the second quarter worth $70,000. Retirement Systems of Alabama raised its holdings in Biogen by 9.7% during the second quarter. Retirement Systems of Alabama now owns 87,047 shares of the biotechnology company’s stock worth $23,289,000 after buying an additional 7,725 shares during the last quarter. Denali Advisors LLC acquired a new position in Biogen during the second quarter worth $268,000. Strs Ohio raised its holdings in Biogen by 3.1% during the second quarter. Strs Ohio now owns 90,704 shares of the biotechnology company’s stock worth $24,267,000 after buying an additional 2,692 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Biogen by 76.7% during the second quarter. Allworth Financial LP now owns 691 shares of the biotechnology company’s stock worth $185,000 after buying an additional 300 shares during the last quarter. Institutional investors own 78.92% of the company’s stock.
In other news, EVP Alfred Sandrock sold 1,500 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $350.00, for a total value of $525,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.
BIIB has been the topic of several research reports. TheStreet downgraded shares of Biogen from a “b” rating to a “c+” rating in a report on Wednesday, November 11th. Piper Sandler reduced their target price on shares of Biogen from $270.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. Jefferies Financial Group upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, November 4th. Finally, Credit Suisse Group reduced their target price on shares of Biogen from $359.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company. Biogen currently has a consensus rating of “Hold” and a consensus price target of $305.90.
Shares of NASDAQ:BIIB opened at $244.15 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.06 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $37.57 billion, a PE ratio of 8.08, a P/E/G ratio of 1.15 and a beta of 0.61. Biogen Inc. has a twelve month low of $223.25 and a twelve month high of $374.99. The company has a 50-day moving average price of $271.79 and a two-hundred day moving average price of $281.55.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 21st. The biotechnology company reported $8.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.06 by $0.78. Biogen had a net margin of 35.63% and a return on equity of 51.00%. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the firm posted $9.17 earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts anticipate that Biogen Inc. will post 33.61 earnings per share for the current fiscal year.
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 multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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