2,505 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by State of Wyoming

State of Wyoming bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,505 shares of the biotechnology company's stock, valued at approximately $383,000.

A number of other institutional investors have also recently made changes to their positions in BIIB. Tema Etfs LLC acquired a new position in Biogen in the 4th quarter valued at $382,000. Toronto Dominion Bank grew its holdings in shares of Biogen by 20.4% during the fourth quarter. Toronto Dominion Bank now owns 72,671 shares of the biotechnology company's stock worth $11,111,000 after buying an additional 12,301 shares in the last quarter. Suvretta Capital Management LLC raised its position in shares of Biogen by 285.5% in the fourth quarter. Suvretta Capital Management LLC now owns 115,436 shares of the biotechnology company's stock valued at $17,652,000 after buying an additional 85,490 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in shares of Biogen by 159.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 14,321 shares of the biotechnology company's stock worth $2,190,000 after buying an additional 8,801 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its position in Biogen by 75.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,464 shares of the biotechnology company's stock worth $683,000 after acquiring an additional 1,914 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 0.4%

Shares of NASDAQ BIIB traded down $0.49 during midday trading on Monday, hitting $125.81. The company's stock had a trading volume of 837,351 shares, compared to its average volume of 1,394,266. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The business's fifty day simple moving average is $124.61 and its two-hundred day simple moving average is $140.46. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIIB. Argus downgraded shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial dropped their price target on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Piper Sandler cut their price target on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Morgan Stanley lowered their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Oppenheimer set a $205.00 target price on Biogen in a research note on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Biogen has an average rating of "Hold" and an average target price of $191.30.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.