Dohj LLC Makes New $951,000 Investment in Biogen Inc. (NASDAQ:BIIB)

Dohj LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,675 shares of the biotechnology company’s stock, valued at approximately $951,000.

Several other hedge funds also recently made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Biogen by 15.0% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after buying an additional 4,693 shares during the period. Boone Capital Management LLC boosted its stake in shares of Biogen by 52.9% during the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after buying an additional 33,238 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Biogen by 35.2% during the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 3,145 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after buying an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Oppenheimer decreased their target price on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Canaccord Genuity Group reduced their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. HC Wainwright reduced their price objective on shares of Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Bank Of America (Bofa) reduced their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $293.88.

Biogen Price Performance

Shares of Biogen stock traded up $6.44 during trading on Friday, hitting $208.90. 1,894,098 shares of the company were exchanged, compared to its average volume of 1,185,437. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.13 and a beta of -0.02. The firm has a 50 day moving average price of $212.55 and a 200 day moving average price of $233.57.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $3.40 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc. will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

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