Biogen Inc. (NASDAQ:BIIB) Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC increased its stake in Biogen Inc. (NASDAQ:BIIB) by 64.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 669 shares of the biotechnology company’s stock after acquiring an additional 263 shares during the period. Quadrant Capital Group LLC’s holdings in Biogen were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BIIB. Larson Financial Group LLC increased its stake in 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 acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new position in Biogen during the fourth quarter valued at approximately $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $113.38 on Friday. The company has a market cap of $16.60 billion, a P/E ratio of 10.13, a PEG ratio of 1.51 and a beta of 0.06. The business has a 50 day moving average of $137.29 and a two-hundred day moving average of $154.53. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. As a group, 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 business’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 completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BIIB shares. Bank Of America (Bofa) cut their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. HC Wainwright lowered their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada dropped their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $213.15.

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.