LMR Partners LLP Has $2.22 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

LMR Partners LLP increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 78.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,500 shares of the biotechnology company's stock after acquiring an additional 6,379 shares during the period. LMR Partners LLP's holdings in Biogen were worth $2,217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after purchasing an additional 71 shares during the last quarter. Quent Capital LLC lifted its position in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after buying an additional 72 shares during the period. Principal Securities Inc. lifted its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after buying an additional 78 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Biogen by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock worth $767,000 after purchasing an additional 79 shares during the period. Finally, Israel Discount Bank of New York raised its holdings in shares of Biogen by 6.2% in the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company'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 transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Performance

Biogen stock traded up $1.89 during trading hours on Friday, hitting $125.59. The stock had a trading volume of 1,803,229 shares, compared to its average volume of 1,381,048. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a market cap of $18.40 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The company has a 50-day moving average of $125.96 and a two-hundred day moving average of $142.58. 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 released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share 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 the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company'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 posted $3.67 earnings per share. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho dropped their target price on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada reduced their price objective on Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. HC Wainwright cut their target price on Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, JPMorgan Chase & Co. decreased their target price on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $191.30.

Biogen Company 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.