Siemens Fonds Invest GmbH Purchases 8,801 Shares of Biogen Inc. (NASDAQ:BIIB)

Siemens Fonds Invest GmbH boosted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 159.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,321 shares of the biotechnology company's stock after purchasing an additional 8,801 shares during the period. Siemens Fonds Invest GmbH's holdings in Biogen were worth $2,190,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in shares of Biogen during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC grew 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 acquiring an additional 141 shares during the period. Colonial Trust Co SC grew 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 acquiring an additional 186 shares during the period. SRS Capital Advisors Inc. bought a new position in shares of Biogen during the 4th quarter valued at approximately $33,000. Finally, OFI Invest Asset Management bought a new position in shares of Biogen during the 4th quarter valued at approximately $32,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

NASDAQ BIIB opened at $125.59 on Friday. The company's 50 day simple moving average is $125.96 and its two-hundred day simple moving average is $142.58. 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 stock has a market capitalization of $18.40 billion, a PE ratio of 11.22, a P/E/G 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.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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 for 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.67 EPS. Analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BIIB shares. Hsbc Global Res downgraded shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Royal Bank of Canada reduced their target price on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Scotiabank reduced their target price on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. Finally, BMO Capital Markets cut their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $191.30.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

About Biogen

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.