AJOVista LLC Buys New Stake in Biogen Inc. (NASDAQ:BIIB)

AJOVista LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, Holdings Channel.com reports. The fund bought 778 shares of the biotechnology company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently modified their holdings of the stock. Stratos Wealth Partners LTD. grew its holdings in shares of Biogen by 1.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after purchasing an additional 42 shares during the period. Sequoia Financial Advisors LLC grew 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 buying an additional 45 shares during the period. PAX Financial Group LLC increased its position in shares of Biogen by 2.9% in 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 raised its stake in shares of 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 acquiring an additional 45 shares during the period. Finally, Quent Capital LLC lifted its holdings in shares of Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock valued at $87,000 after acquiring an additional 49 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BIIB shares. BTIG Research reissued a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Truist Financial reissued a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Mizuho reduced their target price on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Finally, Canaccord Genuity Group decreased their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $290.92.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by insiders.

Biogen Stock Performance

BIIB traded up $4.00 during trading hours on Friday, hitting $217.51. 1,144,154 shares of the stock were exchanged, compared to its average volume of 1,334,818. The stock has a 50-day simple moving average of $212.00 and a 200-day simple moving average of $232.09. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.21 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:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted $3.40 earnings per share. Analysts anticipate that Biogen Inc. will post 15.6 earnings per share for the current year.

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.