LMR Partners LLP Acquires 6,379 Shares of Biogen Inc. (NASDAQ:BIIB)

LMR Partners LLP raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 78.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,500 shares of the biotechnology company’s stock after purchasing an additional 6,379 shares during the period. LMR Partners LLP’s holdings in Biogen were worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in Biogen in the fourth quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in shares of 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 purchasing an additional 141 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 186 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Biogen during the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management bought a new stake in shares of Biogen during the fourth quarter worth about $32,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $123.16 on Wednesday. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business’s 50 day moving average price is $127.46 and its two-hundred day moving average price is $143.56. The firm has a market cap of $18.05 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the firm posted $3.67 earnings per share. Biogen’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Transactions at Biogen

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

Wall Street Analyst Weigh In

BIIB has been the topic of several research reports. Wells Fargo & Company reduced their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Mizuho reduced their price target on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. 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 report on Wednesday, April 23rd. Piper Sandler reduced their price target on Biogen from $135.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, 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 report on Tuesday, February 11th. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Biogen currently has an average rating of “Hold” and an average target price of $191.30.

Biogen Company 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.