1,562 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,562 shares of the biotechnology company’s stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. KCM Investment Advisors LLC increased its holdings in Biogen by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares during the period. TFB Advisors LLC increased its stake in shares of Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after purchasing an additional 50 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 51 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Biogen by 82.8% during the 1st 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 in the last quarter. 87.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Robert W. Baird dropped their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Piper Sandler reduced their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wedbush lowered their price target on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Eight 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.52.

Biogen Trading Up 1.9 %

Shares of NASDAQ:BIIB opened at $201.44 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $269.43. The business has a 50 day moving average of $207.92 and a two-hundred day moving average of $215.17. The company has a market capitalization of $29.33 billion, a PE ratio of 25.15, a PEG ratio of 2.01 and a beta of -0.06.

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

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’s 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 sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.