Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 4.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,374 shares of the biotechnology company’s stock after purchasing an additional 371 shares during the period. Metis Global Partners LLC’s holdings in Biogen were worth $1,623,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BIIB. Royal Bank of Canada cut their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Citigroup assumed coverage on shares of Biogen in a research report on Thursday. They set a “neutral” rating and a $190.00 price objective on the stock. Mizuho decreased their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Finally, UBS Group dropped their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Twelve investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Stock Down 3.0 %

BIIB stock opened at $159.99 on Friday. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The company has a 50-day moving average of $185.99 and a two-hundred day moving average of $207.38. Biogen Inc. has a 52-week low of $159.60 and a 52-week high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.36 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 16.4 EPS for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.