Biogen Inc. (NASDAQ:BIIB) Shares Bought by AM Squared Ltd

AM Squared Ltd boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 400.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500 shares of the biotechnology company’s stock after buying an additional 400 shares during the quarter. AM Squared Ltd’s holdings in Biogen were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the period. Plato Investment Management Ltd grew its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the period. Jacobi Capital Management LLC grew its position in Biogen by 3.4% during the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock worth $359,000 after buying an additional 55 shares during the period. CWM LLC grew its position in Biogen by 1.7% during the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock worth $873,000 after buying an additional 62 shares during the period. Finally, Quintet Private Bank Europe S.A. grew its position in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after buying an additional 63 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

BIIB opened at $159.99 on Friday. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.51 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a twelve month low of $159.60 and a twelve month high of $268.30. The company has a fifty day simple moving average of $185.99 and a 200 day simple moving average of $207.33.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $4.36 EPS. Equities research analysts expect that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BIIB shares. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Scotiabank cut their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets cut their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays cut their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen cut their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.96.

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.