Sequoia Financial Advisors LLC Lowers Stake in Biogen Inc. (NASDAQ:BIIB)

Sequoia Financial Advisors LLC decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,297 shares of the biotechnology company’s stock after selling 285 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Plato Investment Management Ltd increased its holdings in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen during the second quarter worth about $33,000. EntryPoint Capital LLC acquired a new position in shares of Biogen during the 1st quarter worth about $36,000. Versant Capital Management Inc lifted its stake in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Biogen by 249.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Down 1.2 %

Shares of BIIB opened at $181.69 on Monday. The firm’s 50-day moving average is $195.28 and its two-hundred day moving average is $210.15. Biogen Inc. has a twelve month low of $181.24 and a twelve month high of $268.30. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $26.46 billion, a P/E ratio of 22.88, a PEG ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.02 earnings per share. On average, research analysts predict that Biogen Inc. will post 16.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on BIIB shares. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Scotiabank dropped their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Finally, BMO Capital Markets lowered their target price on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Nine research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.39.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 5,316 shares of the company’s stock, 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 filing with the SEC, which is accessible through this link. 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.