Harvest Fund Management Co. Ltd Purchases 133 Shares of Biogen Inc. (NASDAQ:BIIB)

Harvest Fund Management Co. Ltd raised its stake in Biogen Inc. (NASDAQ:BIIB) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,290 shares of the biotechnology company’s stock after purchasing an additional 133 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Biogen were worth $329,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP acquired a new position in shares of Biogen during the 3rd quarter worth $28,000. KB Financial Partners LLC increased its holdings in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC acquired a new position in Biogen in the 4th quarter worth about $36,000. Finally, Baker Avenue Asset Management LP increased its holdings in Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 125 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. BMO Capital Markets decreased their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Mizuho decreased their price target on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Piper Sandler decreased their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Canaccord Genuity Group decreased their price target on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, HC Wainwright restated a “buy” rating and set a $325.00 target price on shares of Biogen in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.35.

Insider Transactions at Biogen

In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction 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 approximately $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on 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 transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the purchase, 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. Over the last ninety days, insiders sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company’s stock.

Biogen Stock Up 4.6 %

BIIB stock traded up $8.81 during trading on Wednesday, hitting $201.99. 3,241,587 shares of the company’s stock traded hands, compared to its average volume of 1,191,599. The firm has a market capitalization of $29.36 billion, a P/E ratio of 25.64, a PEG ratio of 1.85 and a beta of -0.02. The business has a fifty day simple moving average of $213.55 and a two-hundred day simple moving average of $234.62. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter last year, the business earned $4.05 earnings per share. Sell-side analysts anticipate that Biogen Inc. will post 15.48 EPS for the current 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.