Horizon Kinetics Asset Management LLC Sells 81 Shares of Biogen Inc. (NASDAQ:BIIB)

Horizon Kinetics Asset Management LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,040 shares of the biotechnology company’s stock after selling 81 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Biogen were worth $589,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after acquiring an additional 5,270 shares in the last quarter. Arlington Partners LLC boosted its holdings in shares of Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after purchasing an additional 4,902 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after buying an additional 32,914 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BIIB shares. Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Scotiabank decreased their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. TD Cowen decreased their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus price target of $257.20.

Biogen Trading Up 0.5 %

NASDAQ:BIIB opened at $158.71 on Tuesday. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.49 and a beta of -0.06. The firm has a fifty day simple moving average of $181.03 and a two-hundred day simple moving average of $204.67.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 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 during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $4.36 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.