Simplicity Solutions LLC Has $593,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Simplicity Solutions LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 13.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,291 shares of the biotechnology company’s stock after buying an additional 270 shares during the period. Simplicity Solutions LLC’s holdings in Biogen were worth $593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Biogen in the 4th quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in shares of Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in shares of Biogen in the 3rd quarter valued at $28,000. KB Financial Partners LLC increased its stake in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 62 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Biogen in the 4th quarter valued at $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Down 1.5 %

Shares of NASDAQ:BIIB opened at $192.16 on Thursday. Biogen Inc. has a 12-month low of $192.01 and a 12-month high of $319.76. The stock has a market cap of $27.93 billion, a PE ratio of 24.08, a P/E/G ratio of 1.87 and a beta of -0.02. The business has a 50 day moving average of $217.16 and a 200-day moving average of $236.56. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $4.05 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Activity at Biogen

In related news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BIIB. Bank of America lowered their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Piper Sandler reduced their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. Finally, Barclays reduced their price target on Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $297.73.

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.