Systematic Financial Management LP Has $1.08 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Systematic Financial Management LP increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,670 shares of the biotechnology company’s stock after acquiring an additional 510 shares during the period. Systematic Financial Management LP’s holdings in Biogen were worth $1,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leo Wealth LLC acquired a new stake in shares of Biogen during the fourth quarter worth $2,265,000. Duality Advisers LP acquired a new stake in Biogen in the 1st quarter valued at $1,290,000. Tocqueville Asset Management L.P. increased its stake in Biogen by 924.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after buying an additional 41,690 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after buying an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after buying an additional 10,425 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of Biogen stock opened at $194.67 on Monday. The company has a 50 day moving average of $204.12 and a 200-day moving average of $213.86. The company has a market cap of $28.34 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.97 and a beta of -0.06. Biogen Inc. has a 1-year low of $188.78 and a 1-year high of $269.43. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.02 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction that occurred 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 directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Barclays lowered their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Mizuho lowered their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research note on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.30.

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.