486 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 486 shares of the biotechnology company’s stock, valued at approximately $120,000.

Several other large investors have also recently modified their holdings of the company. California Public Employees Retirement System raised its stake in shares of Biogen by 29.2% during the 4th quarter. California Public Employees Retirement System now owns 363,209 shares of the biotechnology company’s stock worth $93,988,000 after acquiring an additional 82,046 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Biogen by 7.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 127,488 shares of the biotechnology company’s stock valued at $32,990,000 after purchasing an additional 9,284 shares in the last quarter. RWA Wealth Partners LLC acquired a new position in Biogen during the 4th quarter valued at approximately $782,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Biogen by 6.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,770 shares of the biotechnology company’s stock valued at $3,046,000 after purchasing an additional 750 shares in the last quarter. Finally, abrdn plc increased its stake in Biogen by 237.4% during the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock valued at $113,102,000 after purchasing an additional 307,532 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, 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. Insiders sold 882 shares of company stock worth $202,030 over the last three months. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $311.00 price target on shares of Biogen in a research note on Tuesday, February 20th. BMO Capital Markets dropped their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. UBS Group dropped their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Oppenheimer dropped their price objective on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Finally, Piper Sandler dropped their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.88.

Biogen Stock Performance

NASDAQ:BIIB opened at $208.90 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. The company has a fifty day moving average of $212.55 and a two-hundred day moving average of $233.57. The stock has a market capitalization of $30.42 billion, a PE ratio of 26.08, a P/E/G ratio of 2.13 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.40 earnings per share. As a group, research analysts forecast that Biogen Inc. will post 15.57 earnings per share for the current fiscal year.

Biogen 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.