First Foundation Advisors Has $1.74 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

First Foundation Advisors lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 32.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,352 shares of the biotechnology company's stock after buying an additional 2,800 shares during the period. First Foundation Advisors' holdings in Biogen were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Inspire Trust Co. N.A. raised its position in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after purchasing an additional 111 shares during the last quarter. Amundi grew its position in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after purchasing an additional 319,478 shares during the period. Centre Asset Management LLC increased its holdings in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock valued at $7,880,000 after buying an additional 3,698 shares in the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in Biogen during the fourth quarter worth $407,000. 87.93% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price on the stock. Canaccord Genuity Group dropped their price objective on Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Finally, Argus lowered Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $213.15.

Biogen Price Performance

NASDAQ BIIB traded up $0.54 during mid-day trading on Wednesday, hitting $117.52. The stock had a trading volume of 476,035 shares, compared to its average volume of 1,350,853. The company has a 50 day simple moving average of $135.71 and a 200 day simple moving average of $152.96. The company has a market cap of $17.20 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 1.51 and a beta of 0.06. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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%. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction 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 completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

About Biogen

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.