Alpha Family Trust Acquires New Position in Biogen Inc. (NASDAQ:BIIB)

Alpha Family Trust acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,050 shares of the biotechnology company’s stock, valued at approximately $243,000.

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in shares of Biogen in the fourth quarter valued at about $26,000. Plato Investment Management Ltd lifted its position in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. Rise Advisors LLC acquired a new position in Biogen in the first quarter valued at about $27,000. Versant Capital Management Inc lifted its position in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Biogen in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Biogen Stock Performance

Shares of BIIB opened at $199.58 on Tuesday. The company’s 50 day simple moving average is $209.95 and its 200-day simple moving average is $215.55. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $269.43. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The firm has a market cap of $29.06 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $4.02 EPS. Biogen’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that Biogen Inc. will post 16.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Wedbush decreased their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Piper Sandler reduced their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $275.52.

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.