Bellevue Group AG Trims Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Bellevue Group AG lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 55.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,634 shares of the biotechnology company’s stock after selling 3,268 shares during the quarter. Bellevue Group AG’s holdings in Biogen were worth $511,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC grew its stake in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after purchasing an additional 304,778 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Biogen by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after purchasing an additional 162,511 shares during the period. Primecap Management Co. CA raised its position in Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Biogen in the 2nd quarter worth $22,867,000. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays cut their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Oppenheimer reduced their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.20.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $160.63 on Monday. The company has a 50 day simple moving average of $177.86 and a two-hundred day simple moving average of $202.76. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.52 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.36 earnings per share. As a group, analysts predict that Biogen Inc. will post 16.44 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.