Arjuna Capital Takes Position in Biogen Inc (NASDAQ:BIIB)

Arjuna Capital acquired a new stake in shares of Biogen Inc (NASDAQ:BIIB) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,795 shares of the biotechnology company’s stock, valued at approximately $661,000.

A number of other hedge funds have also recently made changes to their positions in BIIB. Piedmont Investment Advisors Inc. boosted its holdings in shares of Biogen by 41.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock worth $5,617,000 after buying an additional 6,966 shares during the last quarter. Fosun International Ltd raised its stake in Biogen by 20.0% during the 1st quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock worth $559,000 after acquiring an additional 400 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Biogen by 4.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock worth $40,691,000 after acquiring an additional 5,587 shares during the period. WestEnd Advisors LLC raised its stake in Biogen by 1.5% during the 1st quarter. WestEnd Advisors LLC now owns 109,859 shares of the biotechnology company’s stock worth $25,968,000 after acquiring an additional 1,621 shares during the period. Finally, Gotham Asset Management LLC raised its position in shares of Biogen by 34.3% during the fourth quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock valued at $32,028,000 after buying an additional 27,164 shares during the last quarter. 87.55% of the stock is currently owned by institutional investors.

Shares of BIIB traded down $4.02 during mid-day trading on Friday, hitting $234.25. 1,264,513 shares of the company traded hands, compared to its average volume of 1,658,546. Biogen Inc has a 1-year low of $216.12 and a 1-year high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The company has a market capitalization of $45.42 billion, a P/E ratio of 8.94, a PEG ratio of 0.94 and a beta of 0.96. The firm’s 50 day simple moving average is $230.98.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 EPS for the quarter, beating the Zacks’ consensus estimate of $6.88 by $0.10. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. Biogen’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.05 earnings per share. On average, sell-side analysts predict that Biogen Inc will post 29.54 earnings per share for the current fiscal year.

Several research firms have recently issued reports on BIIB. BidaskClub cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Argus reiterated a “hold” rating on shares of Biogen in a research report on Tuesday, May 7th. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Cantor Fitzgerald reissued a “hold” rating and issued a $250.00 target price on shares of Biogen in a report on Wednesday, March 27th. Finally, Atlantic Securities lowered shares of Biogen from an “overweight” rating to a “neutral” rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $282.08.

In related news, CEO Michel Vounatsos acquired 4,351 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander J. Denner acquired 118,342 shares of the stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now owns 10,909 shares in the company, valued at approximately $2,508,415.46. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 173,035 shares of company stock worth $39,759,632. 0.39% of the stock is owned by insiders.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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