Biogen Inc. (NASDAQ:BIIB) Shares Purchased by FORA Capital LLC

FORA Capital LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 762.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,889 shares of the biotechnology company’s stock after purchasing an additional 8,743 shares during the period. Biogen accounts for approximately 0.6% of FORA Capital LLC’s holdings, making the stock its 26th biggest position. FORA Capital LLC’s holdings in Biogen were worth $3,424,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP increased its position in shares of Biogen by 74.2% in the second quarter. LMR Partners LLP now owns 22,806 shares of the biotechnology company’s stock worth $7,897,000 after acquiring an additional 9,715 shares in the last quarter. Point72 Asset Management L.P. grew its position in Biogen by 112.7% in the second quarter. Point72 Asset Management L.P. now owns 245,506 shares of the biotechnology company’s stock worth $85,011,000 after acquiring an additional 130,106 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Biogen by 709.4% in the second quarter. Cubist Systematic Strategies LLC now owns 36,708 shares of the biotechnology company’s stock worth $12,711,000 after buying an additional 32,173 shares during the last quarter. Corient Capital Partners LLC lifted its stake in shares of Biogen by 9.4% in the second quarter. Corient Capital Partners LLC now owns 2,944 shares of the biotechnology company’s stock worth $1,019,000 after buying an additional 254 shares during the last quarter. Finally, Alberta Investment Management Corp raised its stake in Biogen by 31.4% during the 2nd quarter. Alberta Investment Management Corp now owns 4,600 shares of the biotechnology company’s stock valued at $1,593,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

A number of brokerages have commented on BIIB. Piper Sandler decreased their price objective on shares of Biogen from $460.00 to $390.00 and set an “overweight” rating on the stock in a report on Wednesday, October 20th. Canaccord Genuity cut their price target on shares of Biogen from $423.00 to $390.00 and set a “buy” rating on the stock in a research report on Friday, October 22nd. Bank of America dropped their target price on shares of Biogen from $400.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday, September 15th. Robert W. Baird initiated coverage on shares of Biogen in a research note on Friday, September 24th. They set a “hold” rating and a $296.00 price target for the company. Finally, SVB Leerink reaffirmed a “buy” rating on shares of Biogen in a research note on Tuesday, October 5th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $378.06.

Shares of NASDAQ:BIIB traded up $3.61 during trading on Thursday, reaching $263.56. 14,610 shares of the stock were exchanged, compared to its average volume of 1,397,531. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.15 and a quick ratio of 1.77. Biogen Inc. has a 1-year low of $223.25 and a 1-year high of $468.55. The stock has a fifty day moving average of $311.34 and a two-hundred day moving average of $312.93. The firm has a market cap of $38.72 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.54 and a beta of 0.41.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.68. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.67 billion. Biogen had a return on equity of 34.74% and a net margin of 16.40%. Biogen’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.84 EPS. Sell-side analysts forecast that Biogen Inc. will post 18.67 EPS for the current year.

Biogen Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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