DCF Advisers LLC Takes Position in Biogen Inc. (NASDAQ:BIIB)

DCF Advisers LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,000 shares of the biotechnology company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Plato Investment Management Ltd increased its stake 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 acquiring an additional 53 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Biogen during the 4th quarter worth about $26,000. Rise Advisors LLC acquired a new stake in Biogen during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new position in Biogen in the first quarter valued at approximately $36,000. Finally, Versant Capital Management Inc lifted its position in Biogen by 123.2% during 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 in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of Biogen stock opened at $201.44 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43. The firm’s 50-day simple moving average is $207.92 and its 200-day simple moving average is $215.17. The firm has a market cap of $29.33 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIIB. Truist Financial reissued a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Piper Sandler lowered their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Mizuho reduced their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.52.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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 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.