Arlington Partners LLC Acquires 4,902 Shares of Biogen Inc. (NASDAQ:BIIB)

Arlington Partners LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 34.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,214 shares of the biotechnology company’s stock after buying an additional 4,902 shares during the period. Arlington Partners LLC’s holdings in Biogen were worth $3,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Duality Advisers LP purchased a new stake in shares of Biogen during the 1st quarter worth $1,290,000. Tocqueville Asset Management L.P. lifted its position in shares of Biogen by 924.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after buying an additional 41,690 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after buying an additional 3,380 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after buying an additional 10,425 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of Biogen in the 1st quarter worth approximately $1,856,000. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent analyst reports. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Mizuho lowered their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. UBS Group reduced their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Scotiabank decreased their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $271.39.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of BIIB stock traded down $3.32 during mid-day trading on Monday, hitting $186.84. 145,688 shares of the stock were exchanged, compared to its average volume of 1,116,578. Biogen Inc. has a 52-week low of $181.31 and a 52-week 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 company has a market cap of $27.20 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The firm has a fifty day moving average of $197.09 and a 200 day moving average of $210.94.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business posted $4.02 earnings per share. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts anticipate that Biogen Inc. will post 16.13 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.