Exchange Traded Concepts LLC Has $322,000 Position in Biogen Inc. (NASDAQ:BIIB)

Exchange Traded Concepts LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 4,516.7% during the 3rd quarter, Holdings Channel reports. The firm owned 1,662 shares of the biotechnology company’s stock after purchasing an additional 1,626 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Biogen were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares during the period. Van ECK Associates Corp boosted its stake in shares of Biogen by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after acquiring an additional 316,144 shares during the period. RA Capital Management L.P. increased its holdings in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after acquiring an additional 207,835 shares during the last quarter. SG Americas Securities LLC raised its stake in Biogen by 1,227.4% in the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after acquiring an additional 162,983 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Biogen by 27.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after purchasing an additional 122,101 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Biogen Price Performance

Shares of BIIB stock opened at $190.16 on Friday. Biogen Inc. has a twelve month low of $181.31 and a twelve month high of $268.30. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $197.09 and a 200 day simple moving average of $210.90. The company has a market cap of $27.69 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.02 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 16.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of several research reports. Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Barclays decreased their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Mizuho cut their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Piper Sandler decreased their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Raymond James reissued a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.39.

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.