D.A. Davidson & CO. Sells 1,193 Shares of Biogen Inc. (NASDAQ:BIIB)

D.A. Davidson & CO. trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 37.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,003 shares of the biotechnology company’s stock after selling 1,193 shares during the period. D.A. Davidson & CO.’s holdings in Biogen were worth $388,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BIIB. Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. Principal Financial Group Inc. increased its holdings in Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the period. Arlington Partners LLC raised its stake in shares of Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after buying an additional 4,902 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares during the period. Finally, National Pension Service boosted its position in shares of Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after acquiring an additional 32,914 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of Biogen stock opened at $160.85 on Wednesday. The firm has a fifty day moving average of $176.56 and a two-hundred day moving average of $201.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.55 and a beta of -0.08. Biogen Inc. has a 52 week low of $153.62 and a 52 week high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business posted $4.36 EPS. Biogen’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Biogen Inc. will post 16.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BIIB shares. Royal Bank of Canada dropped their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. TD Cowen reduced their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $257.20.

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.