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

Syon Capital LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Biogen during the third quarter worth $26,000. Gladius Capital Management LP bought a new position in shares of Biogen during the 3rd quarter valued at about $28,000. KB Financial Partners LLC grew its position in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Biogen in the fourth quarter worth about $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 buying an additional 125 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Truist Financial restated a “buy” rating and issued a $340.00 target price on shares of Biogen in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price target on shares of Biogen in a report on Wednesday. Finally, UBS Group reduced their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $293.88.

Biogen Price Performance

Shares of BIIB stock opened at $208.90 on Friday. The company has a market capitalization of $30.42 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.06 and a beta of -0.02. The company’s 50-day simple moving average is $212.55 and its two-hundred day simple moving average is $233.78. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 earnings per share. As a group, equities analysts anticipate that Biogen Inc. will post 15.55 EPS for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

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.