Stevens Capital Management LP Takes $1.63 Million Position in Biogen Inc. (NASDAQ:BIIB)

Stevens Capital Management LP bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, HoldingsChannel.com reports. The fund bought 6,304 shares of the biotechnology company’s stock, valued at approximately $1,631,000.

Several other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its stake in Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 42 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Biogen by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 45 shares during the last quarter. PAX Financial Group LLC grew its holdings in Biogen by 2.9% in the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 48 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of Biogen stock traded up $6.44 during trading on Friday, reaching $208.90. The company’s stock had a trading volume of 1,893,844 shares, compared to its average volume of 1,205,487. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The firm has a market cap of $30.37 billion, a PE ratio of 25.28, a P/E/G ratio of 1.92 and a beta of -0.02. The business’s 50-day moving average price is $212.76 and its 200-day moving average price is $234.17. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.40 EPS. Equities analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BIIB has been the subject of several research reports. Truist Financial reissued a “buy” rating and set a $340.00 price objective on shares of Biogen in a research note on Monday, March 25th. Piper Sandler cut their price target on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Canaccord Genuity Group reduced their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Finally, Bank Of America (Bofa) decreased their target price on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.88.

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.