Simplicity Solutions LLC Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Simplicity Solutions LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,291 shares of the biotechnology company’s stock after purchasing an additional 270 shares during the period. Simplicity Solutions LLC’s holdings in Biogen were worth $593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its position in Biogen by 2.5% in the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock worth $453,000 after acquiring an additional 39 shares in the last quarter. First Manhattan Co. grew its position in Biogen by 33.3% in the fourth quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 40 shares in the last quarter. Systematic Financial Management LP grew its position in Biogen by 2.5% in the first quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 40 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after acquiring an additional 42 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Biogen by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 1.5 %

NASDAQ:BIIB opened at $192.16 on Thursday. The company’s 50 day moving average price is $217.16 and its 200-day moving average price is $236.56. Biogen Inc. has a 52 week low of $192.01 and a 52 week high of $319.76. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.87 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company earned $4.05 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly 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 quarter, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BIIB shares. HC Wainwright reiterated a “buy” rating and issued a $325.00 target price on shares of Biogen in a research report on Wednesday, February 14th. Wedbush cut their price target on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America cut their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. cut their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $297.73.

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.