Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 69.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,119 shares of the biotechnology company's stock after acquiring an additional 4,163 shares during the quarter. Tower Research Capital LLC TRC's holdings in Biogen were worth $1,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BIIB. Pacer Advisors Inc. lifted its position in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank acquired a new stake in Biogen in the fourth quarter valued at approximately $355,569,000. Van ECK Associates Corp boosted its stake in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Invesco Ltd. increased its position in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock valued at $325,537,000 after acquiring an additional 499,074 shares during the period. Finally, FMR LLC increased its stake in shares of Biogen by 98.7% in the fourth quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock valued at $115,848,000 after buying an additional 376,356 shares during the period. Institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.6 %

Biogen stock traded down $0.67 during mid-day trading on Friday, hitting $118.84. The company's stock had a trading volume of 1,538,299 shares, compared to its average volume of 1,350,289. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The stock's fifty day moving average is $132.47 and its two-hundred day moving average is $149.14. The firm has a market capitalization of $17.40 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other 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 sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank decreased their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a report on Thursday, February 13th. Piper Sandler restated a "neutral" rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Bank Of America (Bofa) reduced their price target on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup lowered their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Eighteen 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, the company currently has an average rating of "Hold" and a consensus price target of $211.37.

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.