Marathon Trading Investment Management LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Marathon Trading Investment Management LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,533 shares of the biotechnology company's stock, valued at approximately $2,222,000. Biogen comprises about 0.1% of Marathon Trading Investment Management LLC's investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Grandfield & Dodd LLC grew its holdings in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company's stock worth $244,000 after buying an additional 62 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. Principal Securities Inc. boosted its holdings in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares during the last quarter. Finally, Huntington National Bank grew its position in Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company's stock worth $447,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on BIIB. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley cut their target price on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Bank of America reiterated a "neutral" rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Finally, Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They set a "peer perform" rating for the company. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $213.33.

Biogen Stock Down 1.9 %

NASDAQ BIIB traded down $2.71 during trading on Wednesday, reaching $140.95. 1,198,276 shares of the company's stock were exchanged, compared to its average volume of 1,543,739. The company has a 50 day moving average price of $143.80 and a two-hundred day moving average price of $165.37. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market cap of $20.63 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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%. On average, equities research analysts anticipate 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 firm's stock in a transaction that occurred on 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 owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

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.