Apollon Wealth Management LLC Buys 3,990 Shares of Biogen Inc. (NASDAQ:BIIB)

Apollon Wealth Management LLC raised its stake in Biogen Inc. (NASDAQ:BIIB) by 397.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,994 shares of the biotechnology company’s stock after acquiring an additional 3,990 shares during the period. Apollon Wealth Management LLC’s holdings in Biogen were worth $1,292,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new stake in Biogen during the third quarter worth about $26,000. Gladius Capital Management LP bought a new stake in Biogen during the 3rd quarter worth approximately $28,000. Hexagon Capital Partners LLC raised its position in Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. KB Financial Partners LLC boosted 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 in the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Biogen during the fourth quarter worth $36,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction 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 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 this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction that occurred 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 completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIIB. BMO Capital Markets cut their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Wells Fargo & Company lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price target on shares of Biogen in a research note on Tuesday, February 20th. Barclays dropped 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, UBS Group decreased their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $290.92.

Biogen Price Performance

Shares of BIIB stock opened at $219.72 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The firm has a fifty day moving average of $211.85 and a 200-day moving average of $231.09. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (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 return on equity of 14.83% and a net margin of 12.07%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.40 earnings per share. On average, equities research analysts forecast that Biogen Inc. will post 15.6 earnings per share for the current year.

About Biogen

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.