Evercore Wealth Management LLC decreased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,975 shares of the biotechnology company’s stock after selling 471 shares during the period. Evercore Wealth Management LLC’s holdings in Biogen were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BIIB. Honkamp Krueger Financial Services Inc. bought a new position in Biogen in the 3rd quarter worth $103,000. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Biogen during the 3rd quarter valued at about $107,000. Adviser Investments LLC raised its position in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Biogen during the 3rd quarter valued at about $133,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Biogen by 122.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 211 shares in the last quarter. 87.16% of the stock is owned by hedge funds and other institutional investors.

NASDAQ BIIB opened at $326.70 on Friday. The company has a market capitalization of $65.02 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.31 earnings per share. Equities research analysts predict that Biogen Inc will post 25.82 EPS for the current year.

In other news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

A number of analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Biogen to $338.00 and set a “sector perform” rating on the stock in a research report on Monday, November 26th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. BidaskClub upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Oppenheimer set a $380.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Sunday, October 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Biogen from $445.00 to $436.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $382.58.

TRADEMARK VIOLATION NOTICE: “Evercore Wealth Management LLC Sells 471 Shares of Biogen Inc (BIIB)” was reported by Watch List News and is the property of of Watch List News. If you are reading this report on another website, it was copied illegally and reposted in violation of US and international copyright legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/evercore-wealth-management-llc-sells-471-shares-of-biogen-inc-biib/2667320.html.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

See Also: What are the economic characteristics of a bear market?

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.