Mizuho Securities USA LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 46.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,811 shares of the biotechnology company's stock after purchasing an additional 4,366 shares during the period. Mizuho Securities USA LLC's holdings in Biogen were worth $2,112,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in BIIB. Larson Financial Group LLC grew its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Biogen during the 4th quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in shares of Biogen during the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in Biogen in the fourth quarter valued at approximately $41,000. 87.93% of the stock is owned by institutional investors.
Analyst Ratings Changes
BIIB has been the topic of a number of research analyst reports. StockNews.com downgraded Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 28th. Scotiabank decreased their target price on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group dropped their target price on shares of Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a report on Thursday, February 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of Biogen from $281.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $213.33.
View Our Latest Stock Analysis on Biogen
Insider Buying and Selling
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.
Biogen Stock Down 1.7 %
Shares of NASDAQ BIIB traded down $2.44 during midday trading on Tuesday, hitting $139.16. 1,766,176 shares of the stock traded hands, compared to its average volume of 1,251,728. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The business has a 50 day moving average price of $141.99 and a two-hundred day moving average price of $161.38. The company has a market cap of $20.37 billion, a PE ratio of 12.44, a P/E/G ratio of 1.51 and a beta of 0.01.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly 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 analysts predict that Biogen Inc. will post 15.83 EPS for the current year.
Biogen Company Profile
(
Free Report)
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.
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