Biogen Inc. (NASDAQ:BIIB) Shares Acquired by LMR Partners LLP

LMR Partners LLP lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 25.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,121 shares of the biotechnology company’s stock after buying an additional 1,661 shares during the period. LMR Partners LLP’s holdings in Biogen were worth $1,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Plato Investment Management Ltd increased its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Biogen during the second quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in Biogen during the third quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new position in Biogen during the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIIB shares. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.96.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $157.94 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1 year low of $157.40 and a 1 year high of $268.30. The business has a fifty day simple moving average of $185.16 and a 200 day simple moving average of $206.88. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

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.