Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,169 shares of the biotechnology company’s stock after buying an additional 129 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Biogen were worth $485,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BIIB. Larson Financial Group LLC grew its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new stake in Biogen during the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the fourth quarter worth $41,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BIIB shares. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Bank of America restated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) decreased their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $213.33.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The shares were 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 trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $143.54 on Tuesday. The firm’s 50 day moving average price is $142.90 and its two-hundred day moving average price is $163.58. The stock has a market cap of $21.01 billion, a PE ratio of 12.83, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 52-week low of $128.51 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.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. As a group, analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.