Sherbrooke Park Advisers LLC Has $683,000 Position in Biogen Inc. (NASDAQ:BIIB)

Sherbrooke Park Advisers LLC boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 75.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,464 shares of the biotechnology company’s stock after purchasing an additional 1,914 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Biogen were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at $25,000. Colonial Trust Co SC increased its stake in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Biogen in the fourth quarter valued at $32,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at $33,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Biogen

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BIIB shares. The Goldman Sachs Group lowered their target price on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. BMO Capital Markets lowered their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Argus cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Oppenheimer set a $205.00 price target on Biogen in a report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $191.30.

Biogen Trading Up 1.5%

NASDAQ:BIIB opened at $125.59 on Friday. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock has a market capitalization of $18.40 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The business’s 50-day simple moving average is $125.96 and its 200-day simple moving average is $142.58.

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

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.