Sig Brokerage LP Buys Shares of 4,411 Biogen Inc. (NASDAQ:BIIB)

Sig Brokerage LP purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,411 shares of the biotechnology company's stock, valued at approximately $675,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lee Danner & Bass Inc. purchased a new position in Biogen in the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its stake in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares during the period. Colonial Trust Co SC grew its stake in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. SRS Capital Advisors Inc. bought a new position in shares of Biogen during the 4th quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Biogen during the fourth quarter valued at approximately $32,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BIIB shares. Piper Sandler cut their price target on shares of Biogen from $135.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. BMO Capital Markets cut their price target on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Finally, HSBC cut Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price on the stock. in a research report on Monday, April 28th. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $191.30.

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Biogen Price Performance

Shares of BIIB traded down $3.81 during trading hours on Wednesday, hitting $126.75. 509,345 shares of the stock were exchanged, compared to its average volume of 1,641,813. The stock's 50-day moving average price is $125.55 and its two-hundred day moving average price is $141.70. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. 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 company has a market cap of $18.57 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.67 EPS. Research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

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.