AJOVista LLC Takes Position in Biogen Inc. (NASDAQ:BIIB)

AJOVista LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 778 shares of the biotechnology company’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently made changes to their positions in BIIB. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after acquiring an additional 4,693 shares during the last quarter. Boone Capital Management LLC lifted its stake in Biogen by 52.9% in the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after purchasing an additional 33,238 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after purchasing an additional 3,145 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Biogen by 13.8% in the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BIIB shares. Bank of America decreased their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Piper Sandler decreased their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. Finally, Wedbush lifted their price target on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $290.92.

Insider Activity

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value 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 $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Biogen Stock Up 1.9 %

NASDAQ BIIB traded up $4.00 on Friday, hitting $217.51. The stock had a trading volume of 1,144,154 shares, compared to its average volume of 1,334,818. The business’s fifty day moving average price is $212.00 and its 200 day moving average price is $232.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.40 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 15.6 earnings per share 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.