Clark Estates Inc. NY Takes Position in Biogen Inc. (NASDAQ:BIIB)

Clark Estates Inc. NY acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,150 shares of the biotechnology company’s stock, valued at approximately $3,131,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BIIB. International Assets Investment Management LLC increased its holdings in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares during the period. Mizuho Securities USA LLC increased its stake in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the period. RA Capital Management L.P. raised its holdings in Biogen by 39.0% in the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Biogen by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after acquiring an additional 162,511 shares during the period. Finally, Primecap Management Co. CA grew its holdings in shares of Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.6 %

Shares of BIIB opened at $157.69 on Wednesday. The stock’s fifty day simple moving average is $180.22 and its 200-day simple moving average is $204.22. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.98 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.50 and a beta of -0.06. Biogen Inc. has a 12-month low of $153.62 and a 12-month high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $4.36 earnings per share. As a group, research analysts predict that Biogen Inc. will post 16.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup assumed coverage on Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 target price for the company. Barclays decreased their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada dropped their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Truist Financial reiterated a “buy” rating and issued a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen 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.