STF Management LP Has $535,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

STF Management LP reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,307 shares of the biotechnology company’s stock after selling 95 shares during the quarter. STF Management LP’s holdings in Biogen were worth $535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Biogen by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after acquiring an additional 2,163,068 shares during the period. Primecap Management Co. CA boosted its stake in shares of Biogen by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after purchasing an additional 251,915 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after purchasing an additional 316,144 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after purchasing an additional 81,283 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Biogen in the 4th quarter valued at $378,728,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

Shares of BIIB stock opened at $199.58 on Tuesday. The firm has a 50-day moving average of $209.95 and a 200-day moving average of $215.55. The company has a market cap of $29.06 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.01 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. Biogen Inc. has a one year low of $189.44 and a one year high of $269.43.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.02 earnings per share. Equities research analysts forecast that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BIIB shares. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Wedbush reduced their price objective on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.52.

Biogen Company 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.