1,173 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,173 shares of the biotechnology company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Vanguard Group Inc. boosted its position in shares of Biogen by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. Primecap Management Co. CA raised its stake in Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after buying an additional 117,578 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after acquiring an additional 316,144 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Biogen by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after acquiring an additional 81,283 shares during the last quarter. Finally, RA Capital Management L.P. increased its holdings in shares of Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 1.3 %

Shares of Biogen stock opened at $189.00 on Thursday. Biogen Inc. has a 1-year low of $181.31 and a 1-year high of $269.43. The company’s fifty day simple moving average is $197.61 and its 200-day simple moving average is $211.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock has a market capitalization of $27.52 billion, a PE ratio of 23.60, a P/E/G ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.02 earnings per share. As a group, equities analysts anticipate that Biogen Inc. will post 16.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on BIIB shares. Barclays cut their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Scotiabank lowered their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Piper Sandler cut their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Mizuho decreased their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.78.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

About Biogen

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.