Hexagon Capital Partners LLC Has $31,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Hexagon Capital Partners LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 76.1% during the 4th quarter, Holdings Channel reports. The fund owned 118 shares of the biotechnology company’s stock after acquiring an additional 51 shares during the period. Hexagon Capital Partners LLC’s holdings in Biogen were worth $31,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BIIB. OFI Invest Asset Management acquired a new stake in Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP acquired a new position in shares of Biogen during the third quarter valued at about $28,000. KB Financial Partners LLC increased its position in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares in the last quarter. CVA Family Office LLC bought a new position in Biogen in the 4th quarter valued at about $36,000. Finally, Baker Avenue Asset Management LP lifted its position in Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 125 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, 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 accessible through this hyperlink. In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on 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 purchase, 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 882 shares of company stock worth $202,030 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Biogen Trading Up 1.9 %

Shares of Biogen stock opened at $217.51 on Friday. The company’s 50-day moving average price is $212.12 and its 200-day moving average price is $232.44. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.17 and a beta of -0.01. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BIIB. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price objective on shares of Biogen in a research note on Wednesday, April 24th. HC Wainwright lowered their price target on Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. UBS Group cut their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. Finally, StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $290.92.

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.