Tidemark LLC Purchases Shares of 592 Biogen Inc. (NASDAQ:BIIB)

Tidemark LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the third quarter, HoldingsChannel.com reports. The fund acquired 592 shares of the biotechnology company’s stock, valued at approximately $115,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. International Assets Investment Management LLC lifted its position in Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after purchasing an additional 304,778 shares during the last quarter. RA Capital Management L.P. boosted its position in shares of Biogen by 39.0% in the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares in the last quarter. Primecap Management Co. CA grew its stake in Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after buying an additional 117,578 shares during the last quarter. Finally, Swedbank AB acquired a new position in Biogen during the 1st quarter valued at about $22,939,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

NASDAQ BIIB opened at $159.99 on Monday. The stock has a fifty day simple moving average of $185.99 and a 200-day simple moving average of $207.27. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $23.31 billion, a PE ratio of 14.45, a P/E/G ratio of 1.51 and a beta of -0.06. Biogen Inc. has a twelve month low of $159.60 and a twelve month high of $268.30.

Biogen (NASDAQ:BIIB) last announced its earnings results 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%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.36 earnings per share. Equities analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research analyst reports. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday. They set a “peer perform” rating for the company. Mizuho cut their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. UBS Group decreased their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, Citigroup began coverage on Biogen in a research report on Thursday. They set a “neutral” rating and a $190.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $258.96.

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.