ING Groep NV Has $3.81 Million Position in Biogen Inc. (NASDAQ:BIIB)

ING Groep NV trimmed its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,650 shares of the biotechnology company's stock after selling 4,945 shares during the period. ING Groep NV's holdings in Biogen were worth $3,809,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company's stock worth $3,573,075,000 after buying an additional 2,163,068 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company's stock valued at $695,870,000 after purchasing an additional 357,181 shares in the last quarter. RA Capital Management L.P. grew its stake in Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company's stock worth $159,723,000 after buying an additional 207,835 shares during the last quarter. Primecap Management Co. CA grew its position in Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company's stock worth $3,787,543,000 after acquiring an additional 117,578 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Biogen in the first quarter valued at $22,939,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction on 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. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIIB. Mizuho reduced their target price on shares of Biogen from $277.00 to $251.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 6th. Wolfe Research initiated coverage on Biogen in a research report on Friday. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. dropped their target price on Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley cut Biogen from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.96.

Biogen Stock Down 3.0 %

NASDAQ BIIB traded down $4.90 on Friday, reaching $159.99. The company had a trading volume of 1,917,074 shares, compared to its average volume of 1,169,550. The company's fifty day moving average is $185.99 and its 200-day moving average is $207.38. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 1-year low of $159.60 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 earnings per share. On average, research analysts forecast that Biogen Inc. will post 16.4 earnings per share for the current fiscal year.

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.