Lido Advisors LLC Raises Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Lido Advisors LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 2,364.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,598 shares of the biotechnology company’s stock after buying an additional 39,910 shares during the quarter. Lido Advisors LLC’s holdings in Biogen were worth $6,361,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Larson Financial Group LLC raised its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the fourth quarter worth about $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in Biogen in the 4th quarter worth about $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 0.9 %

Shares of NASDAQ BIIB opened at $120.17 on Wednesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The business has a 50-day moving average of $131.78 and a two-hundred day moving average of $148.18.

Biogen (NASDAQ:BIIB) last released its quarterly 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%. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein began coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Biogen from $221.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Piper Sandler reduced their target price on shares of Biogen from $135.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $201.93.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company 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.