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

Metis Global Partners LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Plato Investment Management Ltd grew its holdings in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Biogen in the 2nd quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the 3rd quarter valued at approximately $33,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Biogen by 123.2% during 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 hedge funds and other institutional investors.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen 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. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Trading Down 3.0 %

BIIB opened at $159.99 on Friday. The firm has a market capitalization of $23.31 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.57 and a beta of -0.06. The firm’s 50 day moving average is $185.99 and its 200-day moving average is $207.38. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52-week low of $159.60 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for 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 quarter in the previous year, the firm posted $4.36 EPS. Analysts expect that Biogen Inc. will post 16.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup started coverage on Biogen in a report on Thursday. They issued a “neutral” rating and a $190.00 target price on the stock. TD Cowen dropped their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group lowered their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Twelve 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $258.96.

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.