Horizon Kinetics Asset Management LLC Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Horizon Kinetics Asset Management LLC lifted its position in Biogen Inc. (NASDAQ:BIIB) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Inspire Trust Co. N.A. raised its holdings in shares of Biogen by 58.5% in 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 buying an additional 4,025 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares during the period. Centre Asset Management LLC raised its holdings in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after buying an additional 3,698 shares during the period. Amundi raised its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BIIB. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Scotiabank lowered their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Up 2.9 %

BIIB opened at $143.54 on Tuesday. The business has a 50 day moving average price of $142.90 and a two-hundred day moving average price of $163.58. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a market cap of $21.01 billion, a PE ratio of 12.83, a P/E/G 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.

Biogen (NASDAQ:BIIB) last issued its earnings results 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, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’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 value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.