PDT Partners LLC Buys 9,997 Shares of Biogen Inc. (NASDAQ:BIIB)

PDT Partners LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 153.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,497 shares of the biotechnology company’s stock after acquiring an additional 9,997 shares during the quarter. PDT Partners LLC’s holdings in Biogen were worth $3,198,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. Principal Financial Group Inc. boosted its stake in Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares during the period. Arlington Partners LLC boosted its stake in Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after purchasing an additional 4,902 shares during the period. Cetera Investment Advisers boosted its stake in Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares during the period. Finally, National Pension Service boosted its stake in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after purchasing an additional 32,914 shares during the period. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Biogen Trading Up 0.5 %

BIIB stock opened at $160.63 on Friday. The business has a fifty day moving average price of $177.86 and a 200 day moving average price of $203.15. Biogen Inc. has a fifty-two week low of $153.62 and a fifty-two week high of $268.30. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.51 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $4.36 EPS. Analysts expect that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIIB. Wolfe Research began coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Robert W. Baird upped their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.20.

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.