Brevan Howard Capital Management LP increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 564.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,138 shares of the biotechnology company's stock after purchasing an additional 6,064 shares during the period. Brevan Howard Capital Management LP's holdings in Biogen were worth $1,092,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the fourth quarter worth about $25,000. OFI Invest Asset Management bought a new stake in Biogen during the 4th quarter valued at approximately $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in Biogen in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.93% of the company's stock.
Insider Transactions at Biogen
In related news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.
Biogen Trading Up 0.3 %
BIIB stock opened at $117.21 on Thursday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The firm's 50-day moving average is $129.28 and its 200 day moving average is $145.57. The company has a market capitalization of $17.17 billion, a PE ratio of 10.47, 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 - Get Free Report) last posted 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). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the firm posted $3.67 EPS. The business's revenue was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on BIIB shares. Oppenheimer set a $205.00 price objective on shares of Biogen in a research report on Friday, May 2nd. Hsbc Global Res downgraded shares of Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Canaccord Genuity Group dropped their price objective on shares of Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HSBC cut Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price on the stock. in a report on Monday, April 28th. Finally, Mizuho dropped their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $191.30.
Get Our Latest Stock Report on Biogen
Biogen Company Profile
(
Free Report)
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.
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