Strategic Financial Concepts LLC bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,574 shares of the biotechnology company's stock, valued at approximately $2,993,000.
Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Biogen in the third quarter worth about $33,000. Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after buying an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Biogen during the fourth quarter valued at approximately $41,000. Finally, Quent Capital LLC increased its holdings in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after buying an additional 72 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Scotiabank reduced their target price on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a report on Thursday, February 13th. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Oppenheimer reduced their target price on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Finally, Royal Bank of Canada dropped their price target on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $211.85.
Check Out Our Latest Stock Report on Biogen
Biogen Price Performance
BIIB stock traded up $0.40 during trading on Thursday, hitting $137.08. 2,056,411 shares of the company's stock traded hands, compared to its average volume of 1,437,722. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business has a fifty day simple moving average of $145.71 and a 200 day simple moving average of $171.46. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.47 and a beta of -0.08.
Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts expect that Biogen Inc. will post 15.84 EPS for the current fiscal year.
About Biogen
(
Free Report)
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.
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