Hexagon Capital Partners LLC Purchases 51 Shares of Biogen Inc. (NASDAQ:BIIB)

Hexagon Capital Partners LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 76.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118 shares of the biotechnology company’s stock after buying an additional 51 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Biogen were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. OFI Invest Asset Management bought a new stake in Biogen in the third quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in shares of Biogen during the 3rd quarter worth about $28,000. KB Financial Partners LLC lifted its holdings in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. CVA Family Office LLC acquired a new position in Biogen in the fourth quarter valued at about $36,000. Finally, Baker Avenue Asset Management LP grew its stake in Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after buying an additional 125 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Biogen

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

Biogen Trading Up 1.9 %

NASDAQ:BIIB opened at $217.51 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a market cap of $31.67 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.17 and a beta of -0.01. The business has a 50 day moving average price of $212.12 and a two-hundred day moving average price of $232.44.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 EPS. As a group, analysts expect that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BIIB. Bank of America reduced their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Robert W. Baird decreased their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Biogen in a report on Monday, April 29th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, Canaccord Genuity Group dropped their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.92.

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.