Parallax Volatility Advisers L.P. Has $2.09 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Parallax Volatility Advisers L.P. lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,690 shares of the biotechnology company’s stock after selling 498 shares during the period. Parallax Volatility Advisers L.P.’s holdings in Biogen were worth $2,093,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BIIB. Virtu Financial LLC acquired a new position in Biogen during the third quarter worth $4,111,000. World Investment Advisors LLC bought a new position in Biogen during the 3rd quarter valued at about $1,118,000. Wilmington Savings Fund Society FSB bought a new stake in Biogen during the third quarter worth about $150,000. Tidal Investments LLC raised its stake in shares of Biogen by 13.6% in the third quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company’s stock valued at $1,747,000 after acquiring an additional 1,082 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Biogen by 6.0% in the 3rd quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock worth $2,803,000 after acquiring an additional 821 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, Truist Financial cut their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Biogen has an average rating of “Hold” and a consensus price target of $211.37.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

NASDAQ BIIB opened at $118.84 on Friday. The firm has a market capitalization of $17.40 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The firm’s fifty day moving average price is $132.47 and its two-hundred day moving average price is $149.14. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Biogen Company 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.