Syon Capital LLC Sells 92 Shares of Biogen Inc. (NASDAQ:BIIB)

Syon Capital LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,574 shares of the biotechnology company’s stock after selling 92 shares during the quarter. Syon Capital LLC’s holdings in Biogen were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in shares of Biogen in the third quarter valued at about $26,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter worth approximately $28,000. KB Financial Partners LLC grew its stake in shares of Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $36,000. Finally, Baker Avenue Asset Management LP lifted its position in shares of Biogen by 215.5% in the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 125 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB opened at $208.90 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The firm has a market cap of $30.42 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.06 and a beta of -0.02. The business’s fifty day moving average is $212.55 and its 200-day moving average is $233.78.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $3.40 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. Sell-side analysts expect that Biogen Inc. will post 15.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIIB. Royal Bank of Canada reiterated an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 target price on shares of Biogen in a report on Tuesday, February 20th. Barclays reduced their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, Bank of America cut their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.88.

Insider Activity at Biogen

In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

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.