Biogen Inc. (NASDAQ:BIIB) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,599 shares of the biotechnology company’s stock after selling 500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Biogen were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Capital Group California Inc. boosted its holdings in shares of Biogen by 9.9% during the third quarter. Legacy Capital Group California Inc. now owns 1,798 shares of the biotechnology company’s stock valued at $349,000 after acquiring an additional 162 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Biogen by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 43,349 shares of the biotechnology company’s stock valued at $8,403,000 after acquiring an additional 612 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Biogen by 10.6% during the third quarter. Private Advisor Group LLC now owns 9,645 shares of the biotechnology company’s stock valued at $1,870,000 after acquiring an additional 924 shares during the period. Finally, Eastern Bank acquired a new position in shares of Biogen during the third quarter valued at $179,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Robert W. Baird reduced their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Truist Financial reaffirmed a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. BMO Capital Markets reduced their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank reduced their price objective 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. Finally, UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.39.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

NASDAQ BIIB opened at $181.69 on Friday. The stock’s 50-day moving average price is $195.69 and its two-hundred day moving average price is $210.29. 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 company has a market cap of $26.46 billion, a PE ratio of 22.88, a PEG ratio of 1.87 and a beta of -0.06. Biogen Inc. has a 1 year low of $181.24 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. The firm 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%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.02 EPS. On average, analysts predict that Biogen Inc. will post 16.14 EPS for the current year.

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.