Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH raised its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 159.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,321 shares of the biotechnology company's stock after acquiring an additional 8,801 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Biogen were worth $2,190,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Biogen in the fourth quarter valued at $25,000. Larson Financial Group LLC lifted 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 valued at $25,000 after acquiring an additional 141 shares during the period. Colonial Trust Co SC lifted 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 valued at $29,000 after acquiring an additional 186 shares during the period. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the 4th quarter worth $33,000. Finally, OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth $32,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Down 1.2%

Shares of BIIB traded down $1.64 during trading on Friday, reaching $131.11. The company's stock had a trading volume of 3,640,026 shares, compared to its average volume of 1,413,436. The company has a fifty day moving average of $123.43 and a two-hundred day moving average of $139.43. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.51 and a beta of 0.12. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results 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). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group cut their price target on Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird cut their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Piper Sandler cut their price target on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets cut their price target on Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $191.30.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.