Tema Etfs LLC Acquires Shares of 2,501 Biogen Inc. (NASDAQ:BIIB)

Tema Etfs LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,501 shares of the biotechnology company's stock, valued at approximately $382,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after buying an additional 71 shares during the period. Quent Capital LLC lifted its stake in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 72 shares in the last quarter. Principal Securities Inc. boosted its holdings in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 78 shares during the period. Israel Discount Bank of New York grew its position in 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 acquiring an additional 82 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in Biogen by 5.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company's stock worth $247,000 after purchasing an additional 87 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BIIB shares. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Truist Financial reduced their price objective on Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $191.30.

Biogen Stock Performance

NASDAQ BIIB traded down $0.52 on Thursday, reaching $126.30. The stock had a trading volume of 937,000 shares, compared to its average volume of 1,392,032. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market cap of $18.51 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The business's 50-day moving average price is $125.30 and its 200 day moving average price is $141.60. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company's stock.

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.