Quarry LP Acquires Shares of 3,005 Biogen Inc. (NASDAQ:BIIB)

Quarry LP bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,005 shares of the biotechnology company's stock, valued at approximately $460,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in Biogen by 640.9% in 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. purchased a new position in Biogen in the 4th quarter worth $25,000. OFI Invest Asset Management bought a new stake in Biogen in the fourth quarter worth $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the fourth quarter valued at about $33,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Biogen during the fourth quarter valued at about $41,000. Institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.6 %

NASDAQ BIIB opened at $118.84 on Monday. The stock's fifty day moving average price is $132.47 and its 200-day moving average price is $148.86. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market cap of $17.40 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated 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 transaction, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. William Blair reissued an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Morgan Stanley lowered their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, BMO Capital Markets cut their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Nineteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $211.37.

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.

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