Knights of Columbus Asset Advisors LLC Buys 2,800 Shares of Biogen Inc. (NASDAQ:BIIB)

Knights of Columbus Asset Advisors LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 97.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,660 shares of the biotechnology company’s stock after acquiring an additional 2,800 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Biogen were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Biogen in the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP purchased a new stake in Biogen in the third quarter worth $28,000. KB Financial Partners LLC increased its stake in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of Biogen during the fourth quarter worth $36,000. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 2.0 %

Shares of Biogen stock opened at $194.38 on Monday. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The firm’s 50 day simple moving average is $215.23 and its two-hundred day simple moving average is $235.57. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter last year, the business earned $4.05 EPS. Analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the firm’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 transaction of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly 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 through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 over the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BIIB shares. Barclays cut their price target on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. BTIG Research restated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Canaccord Genuity Group reduced their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Finally, Wedbush dropped their price objective on Biogen from $245.00 to $213.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $295.58.

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.