14,533 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Marathon Trading Investment Management LLC

Marathon Trading Investment Management LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,533 shares of the biotechnology company’s stock, valued at approximately $2,222,000. Biogen makes up about 0.1% of Marathon Trading Investment Management LLC’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC grew its position in shares of Biogen by 640.9% in 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 period. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the 3rd quarter valued at about $33,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Biogen during the 4th quarter worth about $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 0.2 %

Shares of NASDAQ:BIIB opened at $150.71 on Tuesday. The firm has a market cap of $22.06 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a fifty day simple moving average of $143.99 and a 200 day simple moving average of $165.81. 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 Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada dropped their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) lowered their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Bank of America restated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $213.33.

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.