Biogen Inc. (NASDAQ:BIIB) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its stake in Biogen Inc. (NASDAQ:BIIB) by 397.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,994 shares of the biotechnology company’s stock after buying an additional 3,990 shares during the period. Apollon Wealth Management LLC’s holdings in Biogen were worth $1,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in Biogen by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 23,416 shares of the biotechnology company’s stock valued at $6,018,000 after purchasing an additional 433 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Biogen by 9.9% in the third quarter. Mackenzie Financial Corp now owns 46,830 shares of the biotechnology company’s stock valued at $11,769,000 after purchasing an additional 4,209 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Biogen by 16.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,443 shares of the biotechnology company’s stock valued at $42,263,000 after buying an additional 23,282 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Biogen by 3.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,650 shares of the biotechnology company’s stock valued at $418,000 after buying an additional 50 shares during the last quarter. Finally, Advisor Partners II LLC grew its holdings in Biogen by 2.6% during the 3rd quarter. Advisor Partners II LLC now owns 5,750 shares of the biotechnology company’s stock valued at $1,478,000 after buying an additional 148 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of BIIB opened at $219.72 on Thursday. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 2.21 and a beta of -0.01. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The stock has a 50 day moving average of $211.85 and a 200-day moving average of $231.09.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $3.40 EPS. As a group, analysts forecast that Biogen Inc. will post 15.6 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. HC Wainwright decreased their price objective on Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Piper Sandler decreased their target price on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Mizuho cut their price target on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. HSBC lifted their price objective on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Bank Of America (Bofa) lowered their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.92.

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.