Strategic Financial Concepts LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,574 shares of the biotechnology company's stock, valued at approximately $2,993,000.
Other hedge funds have also bought and sold shares of the company. Grandfield & Dodd LLC boosted its stake in shares of Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company's stock worth $244,000 after acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. boosted its stake in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company's stock worth $138,000 after acquiring an additional 63 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after acquiring an additional 77 shares during the period. Huntington National Bank boosted its stake in shares of Biogen by 3.5% in the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company's stock worth $447,000 after acquiring an additional 79 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock worth $767,000 after acquiring an additional 79 shares during the period. Institutional investors own 87.93% of the company's stock.
Biogen Stock Performance
Shares of NASDAQ BIIB traded up $5.02 during trading on Thursday, reaching $138.45. 2,255,174 shares of the company traded hands, compared to its average volume of 1,407,536. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The stock has a market cap of $20.17 billion, a P/E ratio of 12.51, a PEG ratio of 1.65 and a beta of -0.08. The firm's fifty day simple moving average is $147.73 and its 200 day simple moving average is $174.05.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. As a group, research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on BIIB shares. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Thursday. Truist Financial dropped their price target on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank of Canada dropped their price target on Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday. William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Finally, Stifel Nicolaus lowered Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research note on Monday, December 16th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $211.96.
Check Out Our Latest Stock Report on BIIB
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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