Aljian Capital Management LLC Invests $522,000 in Biogen Inc. (NASDAQ:BIIB)

Aljian Capital Management LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, Holdings Channel reports. The fund acquired 2,694 shares of the biotechnology company’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after acquiring an additional 117,578 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares in the last quarter. RA Capital Management L.P. raised its stake in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the last quarter. abrdn plc lifted its holdings in shares of Biogen by 6.2% during the third quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock valued at $110,123,000 after purchasing an additional 33,333 shares in the last quarter. Finally, Swiss National Bank boosted its position 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 valued at $83,758,000 after buying an additional 1,700 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on BIIB shares. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Wolfe Research began coverage on shares of Biogen in a report on Friday. They issued a “peer perform” rating on the stock. Truist Financial reiterated a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Robert W. Baird increased their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada cut their price objective on 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average price target of $258.96.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Biogen Trading Down 3.0 %

Shares of Biogen stock opened at $159.99 on Monday. Biogen Inc. has a twelve month low of $159.60 and a twelve month high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $185.99 and a 200-day moving average price of $207.27. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping 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 was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.36 EPS. Equities research analysts anticipate that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Biogen 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.