Quantinno Capital Management LP Lowers Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Quantinno Capital Management LP lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 62.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,069 shares of the biotechnology company's stock after selling 5,172 shares during the quarter. Quantinno Capital Management LP's holdings in Biogen were worth $595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Itau Unibanco Holding S.A. bought a new stake in Biogen in the 2nd quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 127 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 49 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 93 shares during the period. Institutional investors own 87.93% of the company's stock.

Analysts Set New Price Targets

BIIB has been the subject of a number of recent research reports. Bank of America reiterated a "neutral" rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Barclays dropped their target price on Biogen from $190.00 to $180.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Wedbush dropped their target price on Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. Citigroup initiated coverage on Biogen in a report on Thursday, November 14th. They issued a "neutral" rating and a $190.00 target price for the company. Finally, Needham & Company LLC cut Biogen from a "buy" rating to a "hold" rating and set a $270.00 price objective for the company. in a report on Monday, November 18th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $248.25.

Biogen Stock Down 3.4 %

NASDAQ:BIIB traded down $5.30 during mid-day trading on Friday, hitting $150.03. 1,608,569 shares of the company's stock traded hands, compared to its average volume of 1,191,503. The company has a fifty day moving average of $171.21 and a 200 day moving average of $198.27. Biogen Inc. has a twelve month low of $149.93 and a twelve month high of $268.30. The company has a market capitalization of $21.86 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08. 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 (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company posted $4.36 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Biogen Inc. will post 16.43 EPS for the current year.

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.