9,863 Biogen Inc. $BIIB Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 35.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,600 shares of the biotechnology company’s stock after selling 9,863 shares during the period. Jefferies Financial Group Inc.’s holdings in Biogen were worth $3,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. First Command Advisory Services Inc. boosted its stake in Biogen by 191.8% during the third quarter. First Command Advisory Services Inc. now owns 569 shares of the biotechnology company’s stock worth $129,000 after buying an additional 374 shares during the last quarter. Silver Grove Financial Group Inc. raised its stake in Biogen by 1,551.0% during the third quarter. Silver Grove Financial Group Inc. now owns 809 shares of the biotechnology company’s stock worth $183,000 after purchasing an additional 760 shares during the period. Turn8 Private Wealth Inc. raised its stake in Biogen by 15.4% during the third quarter. Turn8 Private Wealth Inc. now owns 13,932 shares of the biotechnology company’s stock worth $3,147,000 after purchasing an additional 1,864 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Biogen by 570.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 665,893 shares of the biotechnology company’s stock valued at $150,412,000 after buying an additional 566,590 shares during the period. Finally, Moneco Advisors LLC grew its holdings in shares of Biogen by 562.4% during the 3rd quarter. Moneco Advisors LLC now owns 9,804 shares of the biotechnology company’s stock worth $2,215,000 after purchasing an additional 8,324 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.2%

Biogen stock opened at $250.48 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95. Biogen Inc. has a fifty-two week low of $160.36 and a fifty-two week high of $261.00. The stock has a 50-day simple moving average of $232.77 and a 200-day simple moving average of $204.64. The company has a market capitalization of $37.03 billion, a P/E ratio of 107.04, a PEG ratio of 2.87 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.63. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.63 billion. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $4.81 earnings per share. Equities research analysts expect that Biogen Inc. will post 12.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research reports. Canaccord Genuity Group lifted their target price on shares of Biogen from $248.00 to $272.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Mizuho raised their target price on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Wedbush lifted their price objective on shares of Biogen from $212.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Truist Financial reiterated a “buy” rating and set a $260.00 target price (up from $235.00) on shares of Biogen in a research note on Thursday, October 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $305.00 target price (up from $245.00) on shares of Biogen in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $254.41.

Biogen Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.