Wynn Capital LLC Invests $455,000 in Biogen Inc. (NASDAQ:BIIB)

Wynn Capital LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,758 shares of the biotechnology company’s stock, valued at approximately $455,000.

Other hedge funds also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd increased its holdings in Biogen by 15.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after buying an additional 4,693 shares in the last quarter. Boone Capital Management LLC raised its position in Biogen by 52.9% during the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after acquiring an additional 33,238 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after purchasing an additional 3,145 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Biogen by 13.8% in the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after purchasing an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 285 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BIIB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. Bank Of America (Bofa) cut their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Canaccord Genuity Group cut their price objective on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.35.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Priya Singhal sold 419 shares of Biogen 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 transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 882 shares of company stock worth $202,030. Corporate insiders own 0.60% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $8.81 during trading on Wednesday, reaching $201.99. The stock had a trading volume of 3,264,689 shares, compared to its average volume of 1,191,884. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The firm’s 50 day moving average price is $213.55 and its two-hundred day moving average price is $234.62. The stock has a market cap of $29.36 billion, a PE ratio of 25.64, a P/E/G ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted $4.05 EPS. On average, research analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

About Biogen

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.