Tema Etfs LLC Invests $382,000 in Biogen Inc. (NASDAQ:BIIB)

Tema Etfs LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,501 shares of the biotechnology company’s stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. Pacer Advisors Inc. raised its holdings in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank purchased a new stake in shares of Biogen during the fourth quarter worth $355,569,000. Van ECK Associates Corp raised its holdings in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after acquiring an additional 967,523 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after acquiring an additional 499,074 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Biogen by 982.0% during the fourth quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock worth $81,914,000 after acquiring an additional 489,811 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Activity at Biogen

In related 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 transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $125.59 on Monday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market capitalization of $18.40 billion, a PE ratio of 11.22, a P/E/G ratio of 1.51 and a beta of 0.12. The stock has a 50-day simple moving average of $125.96 and a 200 day simple moving average of $142.09.

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

Analysts Set New Price Targets

Several analysts recently issued reports on BIIB shares. Citigroup cut their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group cut their price objective on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Truist Financial cut their price objective on Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Finally, HC Wainwright cut their target price on Biogen from $241.00 to $187.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $191.30.

About Biogen

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.