592 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by Tidemark LLC

Tidemark LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 592 shares of the biotechnology company’s stock, valued at approximately $115,000.

Several other large investors have also made changes to their positions in BIIB. Plato Investment Management Ltd raised its stake in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the third quarter worth $33,000. EntryPoint Capital LLC bought a new position in shares of Biogen during the first quarter worth $36,000. Finally, Versant Capital Management Inc grew its stake in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

Biogen stock opened at $159.99 on Monday. 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 stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.51 and a beta of -0.06. The firm has a 50-day moving average of $185.99 and a two-hundred day moving average of $207.27. Biogen Inc. has a 1 year low of $159.60 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.36 earnings per share. On average, research analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on BIIB shares. Barclays dropped their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Wolfe Research initiated coverage on Biogen in a report on Friday. They set a “peer perform” rating for the company. Truist Financial reaffirmed a “buy” rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a report on Monday, August 5th. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $258.96.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on 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 approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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.