Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 110.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,959 shares of the biotechnology company's stock after purchasing an additional 9,947 shares during the quarter. Tidal Investments LLC's holdings in Biogen were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the 4th quarter valued at $25,000. Larson Financial Group LLC raised its position in shares of Biogen by 640.9% during the 4th 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 raised its position in shares of Biogen by 9,300.0% during the 4th 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. purchased a new stake in shares of Biogen during the 4th quarter valued at $33,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Biogen during the 4th quarter valued at $32,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. HC Wainwright decreased their target price on shares of Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Morgan Stanley decreased their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, HSBC cut shares of 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $191.30.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on 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 completion of the sale, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Biogen Stock Down 0.4%

Biogen stock traded down $0.49 during mid-day trading on Friday, hitting $125.81. The company had a trading volume of 837,351 shares, compared to its average volume of 1,394,266. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. 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 business has a fifty day moving average of $124.61 and a 200 day moving average of $140.92.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly 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 company 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 business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 earnings per share. On average, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.