Biogen Inc. (NASDAQ:BIIB) Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 96.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,976 shares of the biotechnology company’s stock after buying an additional 969 shares during the quarter. Machina Capital S.A.S.’s holdings in Biogen were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIIB. Wellington Management Group LLP boosted its holdings in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the period. Northern Trust Corp grew its position in shares of Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after buying an additional 45,437 shares during the last quarter. Morgan Stanley raised its stake in Biogen by 4.3% during the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after acquiring an additional 61,814 shares during the period. Van ECK Associates Corp lifted its holdings in Biogen by 19.5% in the fourth quarter. Van ECK Associates Corp now owns 1,421,196 shares of the biotechnology company’s stock worth $367,763,000 after acquiring an additional 231,650 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Biogen by 19.1% in the third quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock valued at $303,625,000 after acquiring an additional 189,368 shares during the period. Institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now 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 ninety days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

Biogen Price Performance

Shares of BIIB stock traded up $3.91 during trading hours on Monday, hitting $221.42. The company had a trading volume of 1,199,731 shares, compared to its average volume of 1,207,770. 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 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The firm’s fifty day moving average is $211.95 and its 200 day moving average is $231.36. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Robert W. Baird reduced their price target on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Bank of America reduced their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, BTIG Research restated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.92.

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.