Aigen Investment Management LP Purchases Shares of 3,108 Biogen Inc. (NASDAQ:BIIB)

Aigen Investment Management LP purchased a new stake in Biogen Inc. (NASDAQ:BIIBFree Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,108 shares of the biotechnology company’s stock, valued at approximately $804,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Biogen during the 4th quarter worth about $378,728,000. International Assets Investment Management LLC boosted its stake in shares of Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after acquiring an additional 474,992 shares in the last quarter. abrdn plc lifted its stake in Biogen by 237.4% in the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock valued at $113,102,000 after buying an additional 307,532 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Biogen by 204.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock valued at $114,781,000 after buying an additional 300,086 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock valued at $305,725,000 after acquiring an additional 233,889 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $2.10 on Wednesday, hitting $225.59. The company’s stock had a trading volume of 463,053 shares, compared to its average volume of 1,176,161. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.35 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. The stock has a 50 day moving average of $212.97 and a 200-day moving average of $229.95.

Biogen (NASDAQ:BIIBGet Free Report) last announced 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 for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.40 earnings per share. As a group, research analysts predict that Biogen Inc. will post 15.59 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. HSBC increased their price objective on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. UBS Group cut their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Barclays cut their price target on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group lowered 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. Ten 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 an average price target of $288.46.

Read Our Latest Report on BIIB

Biogen Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIBFree Report).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.