NEOS Investment Management LLC Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

NEOS Investment Management LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,624 shares of the biotechnology company's stock after purchasing an additional 2,740 shares during the period. NEOS Investment Management LLC's holdings in Biogen were worth $2,695,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings 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 acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Biogen during the fourth quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $41,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on Biogen in a research report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price on the stock. HC Wainwright cut their price target on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada lowered their price objective on Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Truist Financial lowered their target price on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 28th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus price target of $213.33.

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Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Biogen Stock Down 0.8 %

BIIB stock traded down $1.08 during trading on Wednesday, hitting $130.95. 807,402 shares of the stock traded hands, compared to its average volume of 1,307,182. 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 cap of $19.17 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm's 50 day moving average is $141.63 and its two-hundred day moving average is $158.82.

Biogen (NASDAQ:BIIB - Get Free Report) last announced 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, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current 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.