Sunbelt Securities Inc. Sells 150 Shares of Biogen Inc. (NASDAQ:BIIB)

Sunbelt Securities Inc. trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 23.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 477 shares of the biotechnology company’s stock after selling 150 shares during the quarter. Sunbelt Securities Inc.’s holdings in Biogen were worth $92,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its position 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 in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Biogen during the third quarter worth approximately $55,826,000. State Street Corp lifted its holdings in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Biogen by 122.1% in the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after purchasing an additional 235,100 shares during the period. 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 research reports. Mizuho lowered their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Bank of America reaffirmed a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a report on Monday, November 18th. TD Cowen dropped their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Robert W. Baird upped their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Fourteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $248.25.

Biogen Stock Performance

NASDAQ:BIIB opened at $150.03 on Monday. The company has a market capitalization of $21.86 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08. The business has a fifty day simple moving average of $171.21 and a two-hundred day simple moving average of $198.16. 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 1 year low of $149.93 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.36 EPS. On average, analysts expect that Biogen Inc. will post 16.43 earnings per share for the current year.

Biogen 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.