Clark Estates Inc. NY Makes New $3.13 Million Investment in Biogen Inc. (NASDAQ:BIIB)

Clark Estates Inc. NY acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the third quarter, HoldingsChannel reports. The firm acquired 16,150 shares of the biotechnology company’s stock, valued at approximately $3,131,000.

Other institutional investors also recently modified their holdings of the company. Glenmede Trust Co. NA lifted its position in shares of Biogen by 621.2% in the third quarter. Glenmede Trust Co. NA now owns 77,301 shares of the biotechnology company’s stock worth $14,984,000 after purchasing an additional 66,583 shares in the last quarter. Bridgewater Associates LP grew its stake in Biogen by 339.2% in the third quarter. Bridgewater Associates LP now owns 72,104 shares of the biotechnology company’s stock valued at $13,977,000 after purchasing an additional 55,688 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Biogen during the 3rd quarter worth approximately $151,000. Qsemble Capital Management LP bought a new stake in shares of Biogen during the 3rd quarter worth approximately $313,000. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in shares of Biogen by 128.8% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 31,318 shares of the biotechnology company’s stock valued at $6,071,000 after buying an additional 17,628 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

BIIB stock opened at $157.69 on Wednesday. The company has a 50 day simple moving average of $180.22 and a 200 day simple moving average of $204.22. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.50 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1 year low of $153.62 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.36 EPS. Research analysts anticipate that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Citigroup began coverage on Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, UBS Group lowered their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $257.20.

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.