Symmetry Investments LP Purchases Shares of 8,070 Biogen Inc. (NASDAQ:BIIB)

Symmetry Investments LP bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,070 shares of the biotechnology company's stock, valued at approximately $1,234,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Biogen by 43.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 6,788 shares of the biotechnology company's stock valued at $1,038,000 after purchasing an additional 2,053 shares in the last quarter. Pinebridge Investments L.P. grew its stake in Biogen by 430.5% during the fourth quarter. Pinebridge Investments L.P. now owns 249,800 shares of the biotechnology company's stock worth $38,199,000 after buying an additional 202,716 shares during the last quarter. Altrinsic Global Advisors LLC increased its holdings in shares of Biogen by 1.0% during the fourth quarter. Altrinsic Global Advisors LLC now owns 39,724 shares of the biotechnology company's stock worth $6,075,000 after buying an additional 374 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Biogen by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock valued at $295,705,000 after purchasing an additional 21,170 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Biogen by 69.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,119 shares of the biotechnology company's stock valued at $1,547,000 after purchasing an additional 4,163 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 0.6 %

Shares of NASDAQ BIIB traded down $0.77 during midday trading on Monday, reaching $118.07. The company's stock had a trading volume of 550,445 shares, compared to its average volume of 1,347,330. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The stock has a 50 day simple moving average of $132.47 and a 200-day simple moving average of $148.86. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research reports. Morgan Stanley lowered their target price on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada upped their price objective on Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Truist Financial lowered their target price on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Bank Of America (Bofa) cut their price target on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Nineteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $203.07.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's 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 sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

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.