ADAR1 Capital Management LLC Sells 26,580 Shares of Biogen Inc. (NASDAQ:BIIB)

ADAR1 Capital Management LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 89.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Principal Securities Inc. boosted its holdings in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after purchasing an additional 79 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 5.9 %

Shares of Biogen stock opened at $122.98 on Monday. The business has a 50 day moving average price of $140.68 and a 200 day moving average price of $157.34. Biogen Inc. has a 1 year low of $118.04 and a 1 year high of $238.00. The company has a market capitalization of $18.00 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BIIB. Canaccord Genuity Group cut their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. BMO Capital Markets cut 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. Bank Of America (Bofa) lowered their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Scotiabank cut their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 completion of the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

About Biogen

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.