GAMMA Investing LLC Has $34.87 Million Stake in Biogen Inc. (NASDAQ:BIIB)

GAMMA Investing LLC raised its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 63,919.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 254,796 shares of the biotechnology company's stock after buying an additional 254,398 shares during the quarter. GAMMA Investing LLC owned approximately 0.17% of Biogen worth $34,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Biogen by 39.0% during the fourth quarter. Blue Trust Inc. now owns 656 shares of the biotechnology company's stock valued at $100,000 after purchasing an additional 184 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Biogen by 71.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,445 shares of the biotechnology company's stock valued at $369,000 after purchasing an additional 1,015 shares in the last quarter. Greenleaf Trust raised its stake in shares of Biogen by 94.4% during the fourth quarter. Greenleaf Trust now owns 5,065 shares of the biotechnology company's stock valued at $775,000 after purchasing an additional 2,459 shares in the last quarter. Mather Group LLC. raised its stake in shares of Biogen by 476.0% during the fourth quarter. Mather Group LLC. now owns 1,728 shares of the biotechnology company's stock valued at $264,000 after purchasing an additional 1,428 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its stake in shares of Biogen by 14.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,399 shares of the biotechnology company's stock valued at $979,000 after purchasing an additional 800 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 1.1%

BIIB traded down $1.50 during trading on Thursday, reaching $130.36. The company had a trading volume of 1,235,239 shares, compared to its average volume of 1,416,935. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The firm's 50-day simple moving average is $122.91 and its 200 day simple moving average is $138.77. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last released its 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 business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period last year, the firm earned $3.67 EPS. The company's revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 owns 11,318 shares of the company's stock, valued at $1,697,926.36. The trade was a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer set a $205.00 price objective on shares of Biogen in a research note on Friday, May 2nd. HC Wainwright cut their price objective on shares of Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research note on Monday, April 28th. Morgan Stanley cut their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $191.30.

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.