TCG Advisory Services LLC Buys New Holdings in Biogen Inc. (NASDAQ:BIIB)

TCG Advisory Services LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 843 shares of the biotechnology company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ICICI Prudential Asset Management Co Ltd increased its position in shares of Biogen by 15.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after acquiring an additional 4,693 shares in the last quarter. Boone Capital Management LLC increased its holdings in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares in the last quarter. iA Global Asset Management Inc. raised its position in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after purchasing an additional 3,145 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 285 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $221.42 on Tuesday. 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 stock has a 50 day moving average price of $211.95 and a 200 day moving average price of $231.36. The stock has a market capitalization of $32.24 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.40 earnings per share. Analysts predict that Biogen Inc. will post 15.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on BIIB shares. Royal Bank of Canada reissued an “outperform” rating and set a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. UBS Group dropped their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Barclays decreased their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Finally, Mizuho cut their price objective on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $290.92.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction dated 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 acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by insiders.

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.