Kirr Marbach & Co. LLC IN Purchases New Position in Biogen Inc. (NASDAQ:BIIB)

Kirr Marbach & Co. LLC IN purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,247 shares of the biotechnology company's stock, valued at approximately $4,797,000. Biogen comprises approximately 1.2% of Kirr Marbach & Co. LLC IN's holdings, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of Biogen in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Biogen in the third quarter worth approximately $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the third quarter worth approximately $28,000. Hexagon Capital Partners LLC raised its holdings in shares of Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company's stock worth $31,000 after buying an additional 51 shares during the period. Finally, KB Financial Partners LLC raised its holdings in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock worth $31,000 after buying an additional 62 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Eric K. Rowinsky purchased 455 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company's stock, valued at $4,590,777.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares of the company's stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric K. Rowinsky purchased 455 shares of the company's stock in a transaction on 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 completion of the transaction, the director now owns 20,629 shares of the company's stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 882 shares of company stock worth $202,030. Insiders own 0.60% of the company's stock.

Biogen Price Performance

BIIB stock traded up $4.00 during midday trading on Friday, reaching $217.51. The stock had a trading volume of 1,144,154 shares, compared to its average volume of 1,334,818. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The company's fifty day simple moving average is $212.00 and its 200 day simple moving average is $232.09. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.17 and a beta of -0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.40 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 15.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of several recent analyst reports. BTIG Research reiterated a "neutral" rating on shares of Biogen in a report on Sunday, January 7th. Cantor Fitzgerald restated an "overweight" rating and set a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. Wells Fargo & Company downgraded Biogen from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Robert W. Baird reduced their price objective on Biogen from $333.00 to $316.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. Finally, Bank of America reduced their price objective on Biogen from $280.00 to $260.00 and set a "neutral" rating on the stock in a report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $290.92.

Biogen Company 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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