Alaska Permanent Fund Corp Purchases New Position in Biogen Inc. (NASDAQ:BIIB)

Alaska Permanent Fund Corp purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,103 shares of the biotechnology company’s stock, valued at approximately $1,579,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after acquiring an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 45 shares in the last quarter. PAX Financial Group LLC boosted its stake in Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after acquiring an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after acquiring an additional 45 shares in the last quarter. Finally, Ballentine Partners LLC boosted its stake in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BIIB shares. Royal Bank of Canada reissued an “outperform” rating and set a $364.00 price objective on shares of Biogen in a research note on Tuesday, March 5th. Bank Of America (Bofa) dropped 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. HC Wainwright dropped their target price on shares of Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler dropped 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. Finally, Wedbush upped their target price on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Price Performance

NASDAQ:BIIB opened at $201.30 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The firm has a market cap of $29.26 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The company has a 50 day moving average price of $212.76 and a 200-day moving average price of $234.17. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.40 EPS. Equities research analysts forecast that Biogen Inc. will post 15.48 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction 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 directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

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.