Signaturefd LLC Purchases 71 Shares of Biogen Inc. (NASDAQ:BIIB)

Signaturefd LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,092 shares of the biotechnology company’s stock after purchasing an additional 71 shares during the period. Signaturefd LLC’s holdings in Biogen were worth $320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Trust Co. N.A. lifted its stake in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC lifted its position in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Amundi grew its position in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $140.90 on Friday. The firm’s 50 day simple moving average is $142.16 and its 200 day simple moving average is $162.40. 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 1-year low of $128.51 and a 1-year high of $238.00. The firm has a market capitalization of $20.62 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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 expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred 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 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 the SEC website. Insiders own 0.16% of the company’s stock.

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.