Syon Capital LLC Purchases 2,580 Shares of Biogen Inc. (NASDAQ:BIIB)

Syon Capital LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 190.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,937 shares of the biotechnology company's stock after buying an additional 2,580 shares during the period. Syon Capital LLC's holdings in Biogen were worth $602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted 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 valued at $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new stake in shares of Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. acquired a new position in Biogen during the fourth quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm'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 of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research reports. Piper Sandler reiterated a "neutral" rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Truist Financial dropped 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. Royal Bank of Canada increased their target price on shares of Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group reduced their price target on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Wednesday, April 16th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Biogen presently has an average rating of "Hold" and an average target price of $211.37.

Biogen Trading Up 1.1 %

NASDAQ:BIIB opened at $119.51 on Friday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The firm's fifty day moving average is $132.82 and its 200-day moving average is $149.83. The firm has a market cap of $17.49 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.51 and a beta of 0.06. 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 (NASDAQ:BIIB - Get Free Report) last posted 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 return on equity of 14.98% and a net margin of 16.87%. Equities analysts expect that Biogen Inc. will post 15.83 earnings per share 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.

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