Woodline Partners LP Acquires 5,874 Shares of Biogen Inc. (NASDAQ:BIIB)

Woodline Partners LP increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,157 shares of the biotechnology company's stock after purchasing an additional 5,874 shares during the quarter. Woodline Partners LP owned approximately 0.06% of Biogen worth $13,481,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased 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 worth $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Biogen in the 4th quarter valued at about $25,000. Colonial Trust Co SC increased its position in Biogen by 9,300.0% in the 4th 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. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Biogen in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BIIB shares. Wells Fargo & Company reduced their target price on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Truist Financial reduced their target price on shares of Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price on the stock. in a research note on Monday, April 28th. Finally, Oppenheimer set a $205.00 price objective on shares of Biogen in a research note on Friday, May 2nd. 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, Biogen has a consensus rating of "Hold" and a consensus target price of $191.30.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated 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 transaction, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Biogen Stock Down 0.4%

Shares of BIIB stock traded down $0.49 during trading on Friday, reaching $125.81. The company's stock had a trading volume of 837,351 shares, compared to its average volume of 1,394,266. The business has a fifty day moving average price of $124.61 and a 200-day moving average price of $140.92. 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 company has a market cap 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. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

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