TKG Advisors LLC grew its position in Biogen Inc. (NASDAQ:BIIB – Free Report) by 8.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,896 shares of the biotechnology company’s stock after purchasing an additional 849 shares during the period. Biogen comprises approximately 1.9% of TKG Advisors LLC’s holdings, making the stock its 14th biggest holding. TKG Advisors LLC’s holdings in Biogen were worth $3,029,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Altshuler Shaham Ltd acquired a new position in Biogen during the fourth quarter valued at approximately $25,000. MinichMacGregor Wealth Management LLC acquired a new position in Biogen during the fourth quarter valued at approximately $28,000. Delta Asset Management LLC TN acquired a new position in Biogen during the fourth quarter valued at approximately $28,000. James Investment Research Inc. acquired a new position in Biogen during the fourth quarter valued at approximately $28,000. Finally, CVA Family Office LLC grew its holdings in Biogen by 50.0% during the third quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 86.35% of the company’s stock.
Insider Activity
In other news, EVP Ginger Gregory sold 2,681 shares of Biogen stock in a transaction on Friday, April 28th. The shares were sold at an average price of $300.00, for a total value of $804,300.00. Following the completion of the sale, the executive vice president now owns 8,483 shares in the company, valued at approximately $2,544,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biogen news, insider Priya Singhal sold 91 shares of the business’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $277.11, for a total transaction of $25,217.01. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $787,823.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ginger Gregory sold 2,681 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $300.00, for a total transaction of $804,300.00. Following the sale, the executive vice president now owns 8,483 shares of the company’s stock, valued at approximately $2,544,900. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.
Biogen Stock Down 0.7 %
NASDAQ:BIIB opened at $282.13 on Friday. The firm’s 50 day simple moving average is $301.13 and its 200 day simple moving average is $286.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.81. Biogen Inc. has a one year low of $193.65 and a one year high of $319.76. The company has a market cap of $40.84 billion, a PE ratio of 13.10, a P/E/G ratio of 2.35 and a beta of 0.18.
Biogen (NASDAQ:BIIB – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.15. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 30.99% and a return on equity of 19.60%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.62 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.39 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on BIIB shares. UBS Group reduced their price target on shares of Biogen from $347.00 to $346.00 in a report on Wednesday, April 26th. Royal Bank of Canada cut their price objective on shares of Biogen from $344.00 to $340.00 in a research report on Wednesday, April 26th. Bank of America boosted their price objective on shares of Biogen from $300.00 to $320.00 in a research report on Thursday, May 4th. Morgan Stanley boosted their price objective on shares of Biogen from $349.00 to $371.00 in a research report on Tuesday, April 25th. Finally, 1-800-FLOWERS.COM reissued a “maintains” rating on shares of Biogen in a research report on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $330.27.
About Biogen
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 offers 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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