Biogen Inc. (NASDAQ:BIIB) Insider Priya Singhal Sells 431 Shares

Biogen Inc. (NASDAQ:BIIB) insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $204.95 on Thursday. The stock has a market capitalization of $29.84 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.06 and a beta of -0.04. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $270.50. The firm’s 50 day simple moving average is $214.54 and its 200-day simple moving average is $216.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48.

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

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Natixis Advisors L.P. lifted its position in shares of Biogen by 2.4% during the 4th quarter. Natixis Advisors L.P. now owns 24,166 shares of the biotechnology company’s stock valued at $6,253,000 after buying an additional 565 shares in the last quarter. Spire Wealth Management lifted its position in shares of Biogen by 9.5% during the 4th quarter. Spire Wealth Management now owns 636 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 55 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Biogen by 6.5% during the 4th quarter. Private Advisor Group LLC now owns 4,609 shares of the biotechnology company’s stock valued at $1,193,000 after buying an additional 280 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Biogen by 397.4% during the 4th quarter. Apollon Wealth Management LLC now owns 4,994 shares of the biotechnology company’s stock valued at $1,292,000 after buying an additional 3,990 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Biogen during the 4th quarter valued at approximately $1,354,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial reissued a “buy” rating and set a $302.00 price target (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and set a $285.00 price objective on shares of Biogen in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Mizuho cut their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Wedbush cut their price objective on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.35.

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.