Biogen Inc. (NASDAQ:BIIB) Stock Position Lowered by Prospera Financial Services Inc

Prospera Financial Services Inc lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 28.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,048 shares of the biotechnology company’s stock after selling 424 shares during the quarter. Prospera Financial Services Inc’s holdings in Biogen were worth $203,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BIIB. International Assets Investment Management LLC increased its stake in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC increased its stake in Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares during the period. RA Capital Management L.P. increased its stake in Biogen by 39.0% in the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares during the period. Primecap Management Co. CA increased its stake in Biogen by 0.7% in 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 buying an additional 117,578 shares during the period. Finally, Swedbank AB acquired a new position in Biogen in the 1st quarter valued at approximately $22,939,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the topic of several analyst reports. Citigroup initiated coverage on shares of Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target on the stock. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. TD Cowen dropped their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wolfe Research initiated coverage on shares of Biogen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.20.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’s 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 completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Price Performance

Shares of Biogen stock opened at $158.71 on Tuesday. 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 Inc. has a fifty-two week low of $153.62 and a fifty-two week high of $268.30. The firm has a fifty day moving average price of $181.03 and a two-hundred day moving average price of $204.67. The company has a market cap of $23.13 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping 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 revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $4.36 EPS. Analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

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.