Biogen (NASDAQ:BIIB) Insider Priya Singhal Sells 748 Shares of Stock

Biogen Inc. (NASDAQ:BIIB) insider Priya Singhal sold 748 shares of Biogen stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $179.30, for a total value of $134,116.40. Following the sale, the insider directly owned 6,271 shares in the company, valued at approximately $1,124,390.30. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Biogen Stock Performance

Shares of Biogen stock opened at $176.76 on Wednesday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $190.20. The firm has a market capitalization of $25.93 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.50 and a beta of 0.16. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $176.41 and a two-hundred day simple moving average of $155.71.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of analyst reports. Hsbc Global Res cut Biogen from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 10th. Mizuho increased their target price on Biogen from $177.00 to $207.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Robert W. Baird lowered their price target on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Wells Fargo & Company lifted their target price on shares of Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Biogen in a research report on Tuesday, January 13th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $192.58.

Hedge Funds Weigh In On Biogen

A number of institutional investors have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC bought a new position in shares of Biogen during the 2nd quarter valued at approximately $25,000. WPG Advisers LLC increased its stake in shares of Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 88 shares in the last quarter. Accredited Wealth Management LLC boosted its holdings in Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after buying an additional 185 shares during the period. Finally, Concord Wealth Partners increased its stake in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

About Biogen

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.