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

Gotham Asset Management LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 111.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 89,626 shares of the biotechnology company’s stock after purchasing an additional 47,182 shares during the quarter. Gotham Asset Management LLC owned 0.06% of Biogen worth $13,706,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Graham Capital Management L.P. bought a new position in Biogen during the fourth quarter valued at about $2,043,000. Focus Partners Wealth raised its stake in shares of Biogen by 37.5% in the fourth quarter. Focus Partners Wealth now owns 3,737 shares of the biotechnology company’s stock valued at $578,000 after purchasing an additional 1,020 shares in the last quarter. Ethic Inc. lifted its position in Biogen by 108.0% in the fourth quarter. Ethic Inc. now owns 14,912 shares of the biotechnology company’s stock worth $2,280,000 after purchasing an additional 7,743 shares during the period. FORA Capital LLC boosted its stake in Biogen by 10.1% during the fourth quarter. FORA Capital LLC now owns 19,486 shares of the biotechnology company’s stock worth $2,980,000 after buying an additional 1,786 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Biogen by 63.7% during the 4th quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock worth $178,851,000 after acquiring an additional 455,285 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. The Goldman Sachs Group dropped their price target on shares of Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Argus downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $191.30.

Biogen Stock Down 0.2 %

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

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 14.98% and a net margin of 16.87%. Biogen’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.67 earnings per share. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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 directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.