Sig Brokerage LP acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,411 shares of the biotechnology company's stock, valued at approximately $675,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Larson Financial Group LLC increased its holdings in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Biogen in the fourth quarter worth approximately $25,000. Colonial Trust Co SC increased its holdings in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 186 shares in the last quarter. OFI Invest Asset Management bought a new stake in Biogen in the fourth quarter worth approximately $32,000. Finally, SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter worth approximately $33,000. 87.93% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. This trade represents a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Mizuho decreased their price objective on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Truist Financial decreased their price objective on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Needham & Company LLC restated a "hold" rating on shares of Biogen in a report on Friday, May 2nd. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) decreased their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of "Hold" and a consensus price target of $191.30.
Get Our Latest Analysis on Biogen
Biogen Price Performance
NASDAQ BIIB traded up $3.85 during trading hours on Monday, hitting $129.44. The company had a trading volume of 2,386,544 shares, compared to its average volume of 1,386,658. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The firm has a 50 day simple moving average of $125.96 and a 200 day simple moving average of $142.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.51 and a beta of 0.12.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business earned $3.67 EPS. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.
About Biogen
(
Free Report)
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.
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