Biogen Inc. (NASDAQ:BIIB) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lowered its position in Biogen Inc. (NASDAQ:BIIB) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,601 shares of the biotechnology company’s stock after selling 572 shares during the period. Court Place Advisors LLC’s holdings in Biogen were worth $1,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd lifted its holdings in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Biogen in the 2nd quarter valued at approximately $33,000. EntryPoint Capital LLC acquired a new stake in Biogen during the 1st quarter valued at $36,000. Versant Capital Management Inc increased its position in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Biogen by 249.0% in 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 during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 0.5 %

Shares of BIIB stock traded up $0.94 during trading hours on Friday, reaching $184.80. The company had a trading volume of 101,162 shares, compared to its average volume of 1,114,681. The company has a market capitalization of $26.91 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. Biogen Inc. has a twelve month low of $181.31 and a twelve month high of $268.30. The stock’s fifty day simple moving average is $196.04 and its 200 day simple moving average is $210.47.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $4.02 earnings per share. As a group, sell-side analysts expect that Biogen Inc. will post 16.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BIIB shares. Truist Financial reiterated a “buy” rating and set a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Barclays cut their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $285.00 price objective on shares of Biogen in a report on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.39.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

About Biogen

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.