Sig Brokerage LP Takes $675,000 Position in Biogen Inc. (NASDAQ:BIIB)

Sig Brokerage LP acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,411 shares of the biotechnology company’s stock, valued at approximately $675,000.

Several other institutional investors also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its position in Biogen by 640.9% during 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 during the period. Lee Danner & Bass Inc. purchased a new position in Biogen in the 4th quarter valued at about $25,000. Colonial Trust Co SC boosted its position in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares during the last quarter. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter valued at about $33,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho decreased their target price on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Citigroup decreased their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley decreased 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 given a buy rating to the stock. Based on data from MarketBeat, Biogen currently has a consensus 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Biogen Stock Up 2.8%

BIIB stock opened at $123.70 on Friday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.51 and a beta of 0.12. The company has a 50 day moving average of $126.32 and a two-hundred day moving average of $142.98.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion for 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 firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.67 EPS. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share 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.