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

Biogen Inc. (NASDAQ:BIIB) insider Priya Singhal sold 748 shares of the company’s 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 completion of the sale, the insider owned 6,271 shares of the company’s stock, valued at $1,124,390.30. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Biogen Trading Down 1.3%

Biogen stock traded down $2.33 during midday trading on Tuesday, hitting $176.76. 1,577,676 shares of the stock were exchanged, compared to its average volume of 1,550,257. 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 stock’s 50-day simple moving average is $176.51 and its 200 day simple moving average is $155.35. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.50 and a beta of 0.16.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BIIB. Wedbush lifted their target price on shares of Biogen from $143.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 29th. Robert W. Baird decreased their target price on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and raised their target price for the company from $144.00 to $202.00 in a report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $192.58.

Institutional Trading of Biogen

Several hedge funds have recently added to or reduced their stakes in BIIB. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen in the 2nd quarter valued at approximately $25,000. WPG Advisers LLC lifted its holdings in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after buying an additional 117 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares in the last quarter. Accredited Wealth Management LLC increased its holdings in shares of Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 185 shares during the last quarter. Finally, Concord Wealth Partners raised its position in shares of Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

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.