Caxton Associates LP Takes Position in Biogen Inc. (NASDAQ:BIIB)

Caxton Associates LP bought a new stake in shares of Biogen Inc. (NASDAQ:BIIBFree Report) during the fourth quarter, HoldingsChannel reports. The firm bought 45,000 shares of the biotechnology company’s stock, valued at approximately $11,645,000.

Several other large investors have also recently modified their holdings of BIIB. Gladius Capital Management LP bought a new position in Biogen in the 3rd quarter worth approximately $28,000. KB Financial Partners LLC boosted its position in Biogen by 105.1% during the third 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 in the last quarter. Hexagon Capital Partners LLC boosted its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. CVA Family Office LLC acquired a new stake in Biogen in the fourth quarter worth about $36,000. Finally, Baker Avenue Asset Management LP boosted its holdings in Biogen by 215.5% in the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Wedbush lifted their price target on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $294.00 price target on shares of Biogen in a research report on Wednesday, May 22nd. Bank Of America (Bofa) reduced their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Finally, Barclays cut their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.50.

Check Out Our Latest Report on Biogen

Biogen Trading Up 0.4 %

NASDAQ BIIB traded up $0.97 on Tuesday, reaching $226.95. 414,223 shares of the company were exchanged, compared to its average volume of 1,159,395. The business’s fifty day moving average price is $214.76 and its 200 day moving average price is $229.31. The stock has a market capitalization of $33.04 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.27 and a beta of -0.02. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76.

Biogen (NASDAQ:BIIBGet Free Report) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $3.40 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts forecast that Biogen Inc. will post 15.61 earnings per share for the current year.

Biogen Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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