Symmetry Investments LP Invests $1.23 Million in Biogen Inc. (NASDAQ:BIIB)

Symmetry Investments LP purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,070 shares of the biotechnology company's stock, valued at approximately $1,234,000.

Other hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in Biogen during the fourth quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings in Biogen by 640.9% in 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 in the last quarter. SRS Capital Advisors Inc. purchased a new position in Biogen during the fourth quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in shares of Biogen in the fourth quarter valued at about $32,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Price Performance

BIIB stock opened at $118.89 on Wednesday. The business's fifty day moving average price is $133.56 and its 200 day moving average price is $150.49. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $17.40 billion, a PE ratio of 10.62, a P/E/G ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) dropped their target price on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Piper Sandler reissued a "neutral" rating and issued a $135.00 price target (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price objective on shares of Biogen from $221.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Scotiabank decreased their target price on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Biogen presently has an average rating of "Hold" and an average price target of $213.15.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the 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 directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.

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