Yousif Capital Management LLC Purchases 2,745 Shares of Biogen Inc. (NASDAQ:BIIB)

Yousif Capital Management LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 11.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,201 shares of the biotechnology company’s stock after purchasing an additional 2,745 shares during the period. Yousif Capital Management LLC’s holdings in Biogen were worth $7,039,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Biogen during the 3rd quarter worth approximately $26,000. Gladius Capital Management LP purchased a new position in Biogen during the 3rd quarter worth $28,000. KB Financial Partners LLC increased its holdings in Biogen by 105.1% during 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 during the period. CVA Family Office LLC purchased a new position in Biogen during the 4th quarter worth $36,000. Finally, Baker Avenue Asset Management LP increased its holdings in Biogen by 215.5% during 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 during the period. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of Biogen stock opened at $202.00 on Thursday. 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 twelve month low of $189.44 and a twelve month high of $319.76. The business has a 50-day moving average price of $213.18 and a 200 day moving average price of $234.39. The firm has a market cap of $29.36 billion, a PE ratio of 25.31, a P/E/G ratio of 1.84 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $3.40 EPS. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. Sell-side analysts predict that Biogen Inc. will post 15.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $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 ninety days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright reduced their price objective on Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday. Oppenheimer cut their price target on Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $364.00 price target on shares of Biogen in a report on Tuesday, March 5th. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. Finally, Piper Sandler cut their price target on 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.46.

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.