Headlands Technologies LLC Has $4.34 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Headlands Technologies LLC lifted its position in Biogen Inc. (NASDAQ:BIIB) by 2,173.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,377 shares of the biotechnology company’s stock after buying an additional 27,129 shares during the quarter. Headlands Technologies LLC’s holdings in Biogen were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BIIB. Lee Danner & Bass Inc. acquired a new position in Biogen during the 4th quarter worth $25,000. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. bought a new stake in Biogen during the 4th quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. increased its position in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 1.1 %

Shares of BIIB opened at $136.84 on Tuesday. The company has a market capitalization of $20.03 billion, a P/E ratio of 12.23, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The business’s 50 day simple moving average is $141.81 and its 200-day simple moving average is $159.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 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, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BIIB shares. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the company from $250.00 to $180.00 in a research report on Monday, December 9th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. The Goldman Sachs Group reduced their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $213.33.

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.