Stevens Capital Management LP Invests $1.63 Million in Biogen Inc. (NASDAQ:BIIB)

Stevens Capital Management LP purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,304 shares of the biotechnology company's stock, valued at approximately $1,631,000.

A number of other hedge funds have also recently modified their holdings of BIIB. ICICI Prudential Asset Management Co Ltd increased its stake in Biogen by 15.0% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company's stock worth $9,313,000 after acquiring an additional 4,693 shares during the last quarter. Boone Capital Management LLC raised its holdings in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company's stock valued at $24,703,000 after buying an additional 33,238 shares during the period. iA Global Asset Management Inc. lifted its position in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company's stock valued at $3,102,000 after buying an additional 3,145 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company's stock worth $17,577,000 after buying an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company's stock valued at $1,251,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In related news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company's stock, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company's stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Priya Singhal sold 262 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company's stock, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by corporate insiders.

Biogen Price Performance

BIIB traded up $6.44 during midday trading on Friday, reaching $208.90. 1,893,868 shares of the company's stock were exchanged, compared to its average volume of 1,205,487. The business has a 50-day simple moving average of $212.55 and a two-hundred day simple moving average of $233.78. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The firm has a market capitalization of $30.37 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. During the same quarter in the previous year, the company posted $3.40 earnings per share. Biogen's quarterly revenue was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on BIIB. Wedbush upped their price objective on shares of Biogen from $213.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays decreased their target price on Biogen from $215.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Thursday. Mizuho cut their price objective on Biogen from $355.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. Needham & Company LLC reissued a "buy" rating and set a $294.00 price objective on shares of Biogen in a research report on Wednesday. Finally, Truist Financial reiterated a "buy" rating and set a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Biogen presently has an average rating of "Moderate Buy" and an average price target of $293.88.

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.