Inceptionr LLC Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

Inceptionr LLC decreased its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 26.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,469 shares of the biotechnology company’s stock after selling 898 shares during the quarter. Inceptionr LLC’s holdings in Biogen were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Biogen by 5.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 149,428 shares of the biotechnology company’s stock valued at $39,364,000 after purchasing an additional 7,683 shares in the last quarter. Westpac Banking Corp raised its position in shares of Biogen by 16.3% during the 4th quarter. Westpac Banking Corp now owns 1,925 shares of the biotechnology company’s stock valued at $498,000 after buying an additional 270 shares in the last quarter. Quotient Wealth Partners LLC bought a new position in shares of Biogen in the 4th quarter valued at about $3,445,000. Moran Wealth Management LLC purchased a new position in Biogen in the fourth quarter worth about $544,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Biogen by 29.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 580,065 shares of the biotechnology company’s stock worth $150,103,000 after acquiring an additional 133,463 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BIIB has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price objective on shares of Biogen in a research note on Wednesday, April 24th. HC Wainwright lowered their price target on Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Canaccord Genuity Group reduced their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Finally, Barclays dropped their price target on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.46.

Read Our Latest Stock Analysis on Biogen

Insider Activity

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 463 shares of company stock worth $101,701. Corporate insiders own 0.60% of the company’s stock.

Biogen Stock Up 0.7 %

NASDAQ BIIB traded up $1.54 during midday trading on Tuesday, hitting $226.88. 1,109,290 shares of the company traded hands, compared to its average volume of 1,191,421. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The company’s 50-day simple moving average is $212.03 and its 200-day simple moving average is $230.36. The company has a market cap of $33.03 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.25 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIBGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business posted $3.40 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Biogen Inc. will post 15.59 earnings per share for the current year.

Biogen Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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