Stevens Capital Management LP Buys Shares of 2,884 Biogen Inc. (NASDAQ:BIIB)

Key Points

• Stevens Capital Management LP purchased a new stake in Biogen Inc., acquiring 2,884 shares valued at approximately $395,000 during the first quarter.
• Insider Rachid Izzar sold 2,223 shares of Biogen stock, resulting in a 25.99% decrease in their ownership.
• Despite a recent earnings miss, analysts maintain a mostly hold rating on Biogen with an average price target of $186.37.

Stevens Capital Management LP purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,884 shares of the biotechnology company's stock, valued at approximately $395,000.

A number of other large investors also recently made changes to their positions in the stock. Israel Discount Bank of New York lifted its stake in shares of Biogen by 6.2% in the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock valued at $215,000 after purchasing an additional 82 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock valued at $358,000 after buying an additional 92 shares in the last quarter. Quent Capital LLC increased its position in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after buying an additional 93 shares in the last quarter. CVA Family Office LLC increased its position in shares of Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the firm'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 transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company's stock, valued at approximately $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on BIIB. Morgan Stanley lowered their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Robert W. Baird lowered their target price on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a report on Thursday, June 12th. Finally, Mizuho lowered their target price on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of "Hold" and an average price target of $186.37.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $1.23 during mid-day trading on Tuesday, hitting $128.05. 569,945 shares of the company's stock traded hands, compared to its average volume of 1,545,529. The company's 50-day moving average is $129.74 and its two-hundred day moving average is $132.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. The company has a market capitalization of $18.76 billion, a P/E ratio of 12.65, a PEG ratio of 1.90 and a beta of 0.14. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $219.44.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.