Quotient Wealth Partners LLC Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Quotient Wealth Partners LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 27.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,910 shares of the biotechnology company’s stock after selling 719 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Biogen were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. FIL Ltd grew its holdings in shares of Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after buying an additional 593,158 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Biogen by 1,227.4% during the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after purchasing an additional 162,983 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 1.5 %

NASDAQ:BIIB opened at $188.59 on Friday. The stock’s fifty day simple moving average is $198.93 and its 200-day simple moving average is $212.09. The firm has a market capitalization of $27.47 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.87 and a beta of -0.06. 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 Inc. has a 12-month low of $181.31 and a 12-month high of $269.43.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 15.71% and a net margin of 11.98%. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.02 EPS. Equities research analysts expect that Biogen Inc. will post 16.13 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on BIIB shares. Truist Financial reissued a “buy” rating and issued a $302.00 target price (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Scotiabank cut their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Robert W. Baird cut their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, Mizuho reduced their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.78.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

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.