Lighthouse Financial LLC Acquires Shares of 2,100 Biogen Inc. (NASDAQ:BIIB)

Lighthouse Financial LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,100 shares of the biotechnology company's stock, valued at approximately $321,000.

Other hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC boosted its position 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 buying an additional 141 shares in the last quarter. Colonial Trust Co SC boosted its position 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 buying an additional 186 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter valued at $33,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Biogen during the 4th quarter valued at $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BIIB shares. Oppenheimer set a $205.00 price objective on Biogen in a report on Friday, May 2nd. Robert W. Baird cut their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial cut their target price on shares of Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group cut their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and a consensus target price of $191.30.

Biogen Stock Down 1.2%

BIIB stock traded down $1.64 during midday trading on Friday, reaching $131.11. 3,640,026 shares of the company's stock traded hands, compared to its average volume of 1,411,593. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average price is $123.43 and its 200-day moving average price is $139.07. 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. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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). The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 earnings per share. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company'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 owns 11,318 shares in the company, valued at $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 available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.