MJP Associates Inc. ADV Acquires Shares of 2,347 Biogen Inc. (NASDAQ:BIIB)

MJP Associates Inc. ADV bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, HoldingsChannel reports. The fund bought 2,347 shares of the biotechnology company’s stock, valued at approximately $359,000.

Several other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the period. Amundi boosted its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Integrated Quantitative Investments LLC acquired a new position in shares of Biogen in the 4th quarter valued at about $407,000. Daiwa Securities Group Inc. boosted its holdings in shares of Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock valued at $5,692,000 after buying an additional 5,627 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in Biogen by 111.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company’s stock worth $2,316,000 after acquiring an additional 7,970 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of Biogen stock opened at $124.40 on Tuesday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $127.94 and its two-hundred day moving average price is $143.71. The stock has a market cap of $18.23 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.67 earnings per share. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the topic of a number of research reports. Canaccord Genuity Group dropped their price target on Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Bank Of America (Bofa) cut their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Finally, BMO Capital Markets cut their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $191.30.

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.