Biogen Inc. (NASDAQ:BIIB) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC lessened its position in Biogen Inc. (NASDAQ:BIIB) by 89.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,045 shares of the biotechnology company’s stock after selling 26,580 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Biogen were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Biogen by 9.0% during the third quarter. Janus Henderson Group PLC now owns 23,029 shares of the biotechnology company’s stock worth $4,462,000 after buying an additional 1,900 shares during the period. Stifel Financial Corp lifted its holdings in shares of Biogen by 1.9% in the third quarter. Stifel Financial Corp now owns 47,554 shares of the biotechnology company’s stock valued at $9,218,000 after buying an additional 868 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Biogen by 45.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 5,270 shares of the biotechnology company’s stock worth $1,022,000 after acquiring an additional 1,638 shares during the period. EP Wealth Advisors LLC acquired a new stake in Biogen in the 3rd quarter valued at about $793,000. Finally, iA Global Asset Management Inc. raised its stake in Biogen by 3.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 14,848 shares of the biotechnology company’s stock valued at $2,878,000 after purchasing an additional 545 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 5.9 %

Shares of BIIB stock opened at $122.98 on Monday. The firm’s fifty day moving average price is $140.68 and its two-hundred day moving average price is $157.34. Biogen Inc. has a 1 year low of $118.04 and a 1 year high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $18.00 billion, a P/E ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities 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 company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets lowered their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $213.33.

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.