Stevens Capital Management LP Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Stevens Capital Management LP bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 6,304 shares of the biotechnology company’s stock, valued at approximately $1,631,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd increased its position in Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after buying an additional 4,693 shares in the last quarter. Boone Capital Management LLC grew its position in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the period. iA Global Asset Management Inc. increased its stake in Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after purchasing an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after buying an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 3.2 %

Shares of NASDAQ:BIIB traded up $6.44 on Friday, hitting $208.90. 1,893,844 shares of the company traded hands, compared to its average volume of 1,205,487. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The stock has a 50 day simple moving average of $212.76 and a 200-day simple moving average of $234.17. The company has a market cap of $30.37 billion, a PE ratio of 25.28, a PEG ratio of 1.92 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.40 earnings per share. As a group, research analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Needham & Company LLC restated a “buy” rating and set a $294.00 price target on shares of Biogen in a research note on Wednesday. Piper Sandler lowered their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Bank of America lowered their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

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.