First Trust Advisors LP Buys 152,789 Shares of Biogen Inc. (NASDAQ:BIIB)

First Trust Advisors LP boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 511,280 shares of the biotechnology company's stock after purchasing an additional 152,789 shares during the period. First Trust Advisors LP owned about 0.35% of Biogen worth $78,185,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen in the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen during the 4th quarter worth approximately $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm'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 completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.

Biogen Stock Down 0.6 %

BIIB stock traded down $0.67 during trading hours on Friday, reaching $118.84. 1,538,299 shares of the stock were exchanged, compared to its average volume of 1,353,411. The firm's 50-day moving average is $132.82 and its 200-day moving average is $149.83. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

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 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%. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BIIB shares. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Friday. William Blair reissued an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday. Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company lowered their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of "Hold" and a consensus price target of $211.37.

Biogen Company 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.