Aljian Capital Management LLC Purchases Shares of 2,694 Biogen Inc. (NASDAQ:BIIB)

Aljian Capital Management LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,694 shares of the biotechnology company’s stock, valued at approximately $522,000.

Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its holdings in shares of Biogen by 0.4% during the third quarter. Swiss National Bank now owns 432,100 shares of the biotechnology company’s stock worth $83,758,000 after acquiring an additional 1,700 shares in the last quarter. AM Squared Ltd lifted its holdings in shares of Biogen by 400.0% during the 3rd quarter. AM Squared Ltd now owns 500 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 400 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of Biogen by 45.1% in the 3rd quarter. Seizert Capital Partners LLC now owns 11,004 shares of the biotechnology company’s stock valued at $2,133,000 after buying an additional 3,418 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the last quarter. Finally, Simplify Asset Management Inc. raised its position in Biogen by 58.1% during the third quarter. Simplify Asset Management Inc. now owns 2,470 shares of the biotechnology company’s stock valued at $479,000 after acquiring an additional 908 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BIIB. Mizuho decreased their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Barclays reduced their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Oppenheimer lowered their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial restated a “buy” rating and issued a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Twelve investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Price Performance

NASDAQ:BIIB opened at $159.99 on Monday. Biogen Inc. has a 52-week low of $159.60 and a 52-week high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.51 and a beta of -0.06. The stock has a fifty day moving average of $185.99 and a 200 day moving average of $207.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $4.36 earnings per share. On average, research analysts expect that Biogen Inc. will post 16.42 EPS 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.