Gotham Asset Management LLC Acquires 47,182 Shares of Biogen Inc. (NASDAQ:BIIB)

Gotham Asset Management LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 111.2% during the fourth quarter, Holdings Channel reports. The fund owned 89,626 shares of the biotechnology company’s stock after purchasing an additional 47,182 shares during the period. Gotham Asset Management LLC’s holdings in Biogen were worth $13,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BIIB. Larson Financial Group LLC lifted its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Biogen during the fourth quarter worth approximately $25,000. Colonial Trust Co SC boosted its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares during the period. OFI Invest Asset Management acquired a new position in shares of Biogen in the fourth quarter valued at approximately $32,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Biogen during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Down 0.2 %

BIIB opened at $118.20 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The stock has a market cap of $17.32 billion, a PE ratio of 10.56, a PEG ratio of 1.51 and a beta of 0.12. The business has a 50 day moving average of $128.33 and a 200-day moving average of $144.38.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 EPS. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Oppenheimer set a $205.00 price objective on Biogen in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Robert W. Baird cut their price objective on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Hsbc Global Res lowered shares of Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of “Hold” and an average price target of $191.30.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

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.