1,000 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by DCF Advisers LLC

DCF Advisers LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the biotechnology company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Jump Financial LLC bought a new position in Biogen in the 4th quarter worth about $346,000. Dynamic Technology Lab Private Ltd acquired a new stake in Biogen in the 4th quarter valued at approximately $213,000. Gladstone Institutional Advisory LLC bought a new stake in Biogen during the 4th quarter valued at $249,000. Coldstream Capital Management Inc. boosted its position in Biogen by 17.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,282 shares of the biotechnology company’s stock worth $591,000 after acquiring an additional 333 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Biogen by 37.1% during the 4th quarter. Corient Private Wealth LLC now owns 31,212 shares of the biotechnology company’s stock worth $8,077,000 after acquiring an additional 8,453 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of Biogen stock opened at $201.44 on Friday. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a market cap of $29.33 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. The business has a fifty day simple moving average of $207.92 and a 200-day simple moving average of $215.17.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $4.02 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Truist Financial restated a “buy” rating and issued a $302.00 target price (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. HC Wainwright reiterated a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, May 23rd. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Finally, Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.52.

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.