Headlands Technologies LLC Takes Position in Biogen Inc. (NASDAQ:BIIB)

Headlands Technologies LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,693 shares of the biotechnology company’s stock, valued at approximately $438,000.

Other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP purchased a new position in shares of Biogen in the 3rd quarter valued at $28,000. KB Financial Partners LLC grew its position 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 last quarter. CVA Family Office LLC purchased a new position in shares of Biogen in the 4th quarter valued at $36,000. Finally, Baker Avenue Asset Management LP grew its position in shares of Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 125 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

BIIB traded up $6.44 during midday trading on Friday, reaching $208.90. 1,894,098 shares of the company’s stock were exchanged, compared to its average volume of 1,185,437. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The stock has a market capitalization of $30.42 billion, a PE ratio of 26.08, a P/E/G ratio of 2.06 and a beta of -0.02. The business’s 50-day moving average price is $212.55 and its 200 day moving average price is $233.78. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during 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%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.40 earnings per share. As a group, equities analysts anticipate that Biogen Inc. will post 15.55 EPS for the current fiscal year.

Insider Activity at Biogen

In related news, 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 directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value 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 disclosure for this purchase can be found here. Over the last three months, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BIIB. Wedbush raised their price objective on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer lowered their price objective on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. HC Wainwright lowered their price objective on shares of Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Finally, BMO Capital Markets lowered their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

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.