Syon Capital LLC Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Syon Capital LLC raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 190.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,937 shares of the biotechnology company's stock after buying an additional 2,580 shares during the period. Syon Capital LLC's holdings in Biogen were worth $602,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Biogen in the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a report on Friday, April 25th. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Royal Bank of Canada boosted their price target on shares of Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen has an average rating of "Hold" and a consensus target price of $201.93.

Biogen Stock Down 0.1 %

BIIB traded down $0.09 during trading hours on Wednesday, hitting $120.08. 302,684 shares of the company's stock were exchanged, compared to its average volume of 1,341,952. 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 12-month low of $110.04 and a 12-month high of $238.00. The firm has a market cap of $17.58 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The firm has a 50 day moving average of $131.78 and a 200 day moving average of $148.18.

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

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.