Biogen Inc. (NASDAQ:BIIB) Shares Bought by AM Squared Ltd

AM Squared Ltd grew its position in Biogen Inc. (NASDAQ:BIIB) by 400.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the biotechnology company’s stock after buying an additional 400 shares during the period. AM Squared Ltd’s holdings in Biogen were worth $97,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares during the period. Plato Investment Management Ltd grew its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Jacobi Capital Management LLC grew its stake in shares of Biogen by 3.4% in the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock valued at $359,000 after buying an additional 55 shares during the period. CWM LLC grew its stake in shares of Biogen by 1.7% in the 2nd quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock valued at $873,000 after buying an additional 62 shares during the period. Finally, Quintet Private Bank Europe S.A. grew its stake in shares of Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s 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 transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $159.99 on Friday. Biogen Inc. has a 12 month low of $159.60 and a 12 month high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company’s fifty day moving average price is $185.99 and its 200 day moving average price is $207.33. The firm has a market capitalization of $23.31 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $4.36 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Biogen in a research report on Thursday. They set a “neutral” rating and a $190.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer lowered their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $258.96.

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.