Yousif Capital Management LLC Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Yousif Capital Management LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,201 shares of the biotechnology company’s stock after buying an additional 2,745 shares during the period. Yousif Capital Management LLC’s holdings in Biogen were worth $7,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its position in Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after buying an additional 42 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Biogen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after buying an additional 45 shares during the last quarter. PAX Financial Group LLC boosted its position in Biogen by 2.9% in the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Biogen by 2.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after buying an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in Biogen by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after buying an additional 48 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Royal Bank of Canada restated an “outperform” rating and issued a $364.00 target price on shares of Biogen in a research note on Tuesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $294.00 target price on shares of Biogen in a research note on Wednesday. Bank Of America (Bofa) cut their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Finally, Piper Sandler cut their target price on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.46.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock worth $202,030 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $202.00 on Thursday. The firm’s 50 day moving average is $213.18 and its two-hundred day moving average is $234.39. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The firm has a market capitalization of $29.36 billion, a P/E ratio of 25.31, a PEG ratio of 1.84 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $3.40 earnings per share. Analysts anticipate that Biogen Inc. will post 15.47 earnings per share for the current year.

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.