Insider Selling: Biogen (NASDAQ:BIIB) Insider Sells $134,116.40 in Stock

Biogen Inc. (NASDAQ:BIIB) insider Priya Singhal sold 748 shares of Biogen stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $179.30, for a total transaction of $134,116.40. Following the sale, the insider owned 6,271 shares in the company, valued at approximately $1,124,390.30. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Biogen Stock Down 0.0%

Biogen stock opened at $185.36 on Friday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $190.20. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.56 and a beta of 0.16. The company’s 50-day moving average price is $176.55 and its two-hundred day moving average price is $156.12. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC acquired a new stake in Biogen during the 2nd quarter worth about $25,000. WPG Advisers LLC raised its holdings in shares of Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. Rothschild Investment LLC raised its holdings in shares of Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares during the period. Accredited Wealth Management LLC lifted its position 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 in the last quarter. Finally, Concord Wealth Partners boosted its stake in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BIIB. Robert W. Baird cut their target price on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. UBS Group started coverage on Biogen in a report on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 price objective for the company. Tudor Pickering set a $157.00 target price on Biogen in a report on Monday, November 3rd. Jefferies Financial Group boosted their price target on shares of Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Finally, Citigroup raised their price objective on shares of Biogen from $180.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, January 27th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $192.58.

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.