Virtu Financial LLC Has $568,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Virtu Financial LLC lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 82.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,712 shares of the biotechnology company’s stock after selling 17,495 shares during the quarter. Virtu Financial LLC’s holdings in Biogen were worth $568,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of Biogen by 2.2% in the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock valued at $1,298,000 after acquiring an additional 147 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Biogen by 2.7% in the third quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock worth $580,000 after purchasing an additional 80 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Biogen by 35.3% during the third quarter. Cerity Partners LLC now owns 7,785 shares of the biotechnology company’s stock worth $1,509,000 after purchasing an additional 2,030 shares during the last quarter. Swedbank AB increased its stake in shares of Biogen by 85.0% in the third quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock valued at $35,862,000 after buying an additional 84,981 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Biogen by 27.1% in the third quarter. Daiwa Securities Group Inc. now owns 31,594 shares of the biotechnology company’s stock valued at $6,124,000 after buying an additional 6,746 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of BIIB opened at $139.16 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization of $20.37 billion, a PE ratio of 12.44, a P/E/G ratio of 1.51 and a beta of 0.01. The stock has a 50 day simple moving average of $141.91 and a 200 day simple moving average of $160.95. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIIB. Wells Fargo & Company lowered their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research report on Monday, December 16th. Sanford C. Bernstein started coverage on Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price for the company. Finally, Citigroup decreased their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus target price of $213.33.

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.