Headlands Technologies LLC Acquires 27,129 Shares of Biogen Inc. (NASDAQ:BIIB)

Headlands Technologies LLC raised its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2,173.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,377 shares of the biotechnology company's stock after acquiring an additional 27,129 shares during the quarter. Headlands Technologies LLC's holdings in Biogen were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after acquiring an additional 71 shares during the last quarter. Quent Capital LLC boosted its stake in 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 acquiring an additional 72 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after acquiring an additional 77 shares during the period. Principal Securities Inc. raised its position in shares of Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after acquiring an additional 79 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts recently commented on BIIB shares. Wells Fargo & Company decreased their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group cut Biogen from a "buy" rating to a "hold" rating and lowered their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. BMO Capital Markets reduced their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered shares of Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 28th. Finally, Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a report on Monday, December 16th. Eighteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $213.33.

Biogen Stock Performance

BIIB stock traded down $7.73 during trading hours on Friday, reaching $122.98. The stock had a trading volume of 3,089,525 shares, compared to its average volume of 1,324,951. The stock has a 50-day simple moving average of $140.68 and a 200 day simple moving average of $157.62. Biogen Inc. has a fifty-two week low of $122.77 and a fifty-two week high of $238.00. The stock has a market capitalization of $18.00 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results 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 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.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction 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 transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

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.