Fox Run Management L.L.C. Invests $1.25 Million in Biogen Inc. (NASDAQ:BIIB)

Key Points

• Fox Run Management L.L.C. invested $1.25 million in Biogen Inc., purchasing 9,114 shares, indicating confidence in the company's potential.
• In the most recent quarter, Biogen reported an earnings per share (EPS) of $5.47, exceeding analysts' expectations of $3.93, alongside revenue of $2.65 billion.
• Several institutional investors have increased their holdings in Biogen, with institutional ownership now at 87.93%, reflecting strong interest from large investors.

Fox Run Management L.L.C. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,114 shares of the biotechnology company's stock, valued at approximately $1,247,000.

Several other large investors have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock worth $57,057,000 after acquiring an additional 25,464 shares during the period. Asset Management One Co. Ltd. raised its stake in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock worth $8,405,000 after acquiring an additional 3,194 shares during the period. Assenagon Asset Management S.A. raised its stake in Biogen by 3.1% during the first quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company's stock worth $6,130,000 after acquiring an additional 1,336 shares during the period. Blackhawk Capital Partners LLC. acquired a new stake in Biogen during the first quarter worth about $382,000. Finally, PKO Investment Management Joint Stock Co acquired a new stake in Biogen during the fourth quarter worth about $1,193,000. Institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.2%

Biogen stock opened at $134.94 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The firm has a 50 day simple moving average of $130.02 and a 200-day simple moving average of $131.09. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $207.59. The stock has a market capitalization of $19.78 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $5.28 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird decreased their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Biogen from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a research report on Monday, April 28th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus price target of $185.74.

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.

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