Harvest Fund Management Co. Ltd Buys 133 Shares of Biogen Inc. (NASDAQ:BIIB)

Harvest Fund Management Co. Ltd increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,290 shares of the biotechnology company’s stock after acquiring an additional 133 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Biogen were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in Biogen in the 3rd quarter worth approximately $26,000. Gladius Capital Management LP purchased a new stake in Biogen in the 3rd quarter worth approximately $28,000. KB Financial Partners LLC lifted its holdings in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares during the period. CVA Family Office LLC purchased a new stake in Biogen in the 4th quarter worth approximately $36,000. Finally, Baker Avenue Asset Management LP lifted its holdings in Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after buying an additional 125 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Shares of Biogen stock traded up $8.81 during trading hours on Wednesday, hitting $201.99. The company’s stock had a trading volume of 3,241,587 shares, compared to its average volume of 1,191,599. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The business has a 50 day moving average price of $213.55 and a two-hundred day moving average price of $234.62. The company has a market cap of $29.36 billion, a PE ratio of 25.64, a PEG ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned $4.05 earnings per share. Analysts expect that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho lowered their target price on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 target price on shares of Biogen in a research note on Tuesday, February 20th. Bank Of America (Bofa) lowered their target price on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Truist Financial restated a “buy” rating and issued a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $295.35.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 419 shares of the business’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 completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

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.