Suvretta Capital Management LLC Grows Position in Biogen Inc. (NASDAQ:BIIB)

Suvretta Capital Management LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 285.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,436 shares of the biotechnology company's stock after buying an additional 85,490 shares during the period. Suvretta Capital Management LLC owned approximately 0.08% of Biogen worth $17,652,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its holdings in Biogen by 159.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 14,321 shares of the biotechnology company's stock valued at $2,190,000 after acquiring an additional 8,801 shares during the period. Sherbrooke Park Advisers LLC lifted its holdings in Biogen by 75.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,464 shares of the biotechnology company's stock valued at $683,000 after acquiring an additional 1,914 shares during the period. Sig Brokerage LP bought a new position in shares of Biogen in the fourth quarter worth about $675,000. Rafferty Asset Management LLC lifted its position in shares of Biogen by 18.3% during the 4th quarter. Rafferty Asset Management LLC now owns 189,520 shares of the biotechnology company's stock valued at $28,981,000 after buying an additional 29,319 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Biogen during the 4th quarter valued at about $236,000. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BIIB. JPMorgan Chase & Co. lowered their price objective on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Robert W. Baird lowered their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Citigroup lowered their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res cut Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $191.30.

Biogen Price Performance

Shares of Biogen stock opened at $125.59 on Friday. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. 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 50 day moving average price of $125.96 and a 200-day moving average price of $142.58. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

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

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction 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. The trade was a 43.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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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