Crowley Wealth Management Inc. Acquires Shares of 6,175 Biogen Inc. (NASDAQ:BIIB)

Crowley Wealth Management Inc. acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,175 shares of the biotechnology company's stock, valued at approximately $944,000. Biogen makes up approximately 0.8% of Crowley Wealth Management Inc.'s portfolio, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen in the 4th quarter valued at about $25,000. Larson Financial Group LLC increased its position 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 last quarter. SRS Capital Advisors Inc. purchased a new stake in Biogen in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in Biogen during the fourth quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. grew its stake 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 in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Piper Sandler reiterated a "neutral" rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Scotiabank reduced their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. StockNews.com downgraded Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Finally, Stifel Nicolaus cut shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $213.33.

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Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.16% of the company's stock.

Biogen Trading Down 1.7 %

Shares of NASDAQ BIIB traded down $2.44 during midday trading on Tuesday, hitting $139.16. 1,761,011 shares of the company traded hands, compared to its average volume of 1,249,625. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a market cap of $20.37 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.51 and a beta of 0.01. The stock has a 50-day moving average price of $141.99 and a 200 day moving average price of $161.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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 return on equity of 14.98% and a net margin of 16.87%. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share 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.