TCG Advisory Services LLC Takes $218,000 Position in Biogen Inc. (NASDAQ:BIIB)

TCG Advisory Services LLC purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 843 shares of the biotechnology company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after buying an additional 4,693 shares during the last quarter. Boone Capital Management LLC boosted its stake in Biogen by 52.9% during the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Biogen by 35.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after purchasing an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Biogen by 13.8% in the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after purchasing an additional 285 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Biogen Stock Up 1.8 %

Shares of NASDAQ BIIB opened at $221.42 on Tuesday. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.21 and a beta of -0.01. The stock has a 50 day moving average price of $211.95 and a 200 day moving average price of $231.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $3.40 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Sell-side analysts expect that Biogen Inc. will post 15.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wedbush boosted their target price on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Bank Of America (Bofa) reduced their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Bank of America cut their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. UBS Group decreased their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, BMO Capital Markets cut their price objective on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.92.

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.