Advisor OS LLC Purchases New Holdings in Biogen Inc. (NASDAQ:BIIB)

Advisor OS LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,819 shares of the biotechnology company's stock, valued at approximately $431,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter valued at approximately $33,000. Golden State Wealth Management LLC acquired a new position in shares of Biogen during the 4th quarter valued at $41,000. Venturi Wealth Management LLC lifted its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its stake in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 90 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 72 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Biogen from a "buy" rating to a "hold" rating and dropped their price objective for the company from $250.00 to $180.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. StockNews.com downgraded Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group cut their price target on shares of Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a 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, the company has a consensus rating of "Hold" and a consensus price target of $213.33.

Biogen Trading Up 0.9 %

Shares of BIIB stock traded up $1.21 during trading hours on Monday, reaching $141.71. The company's stock had a trading volume of 1,563,385 shares, compared to its average volume of 1,470,477. The firm's fifty day simple moving average is $144.43 and its 200 day simple moving average is $168.26. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $20.74 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.87% and a return on equity of 14.98%. Equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.