Frank Rimerman Advisors LLC Invests $510,000 in Biogen Inc. (NASDAQ:BIIB)

Frank Rimerman Advisors LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,337 shares of the biotechnology company's stock, valued at approximately $510,000.

A number of other institutional investors also recently modified their holdings of the company. Poinciana Advisors Group LLC bought a new position in shares of Biogen in the fourth quarter valued at approximately $295,000. Hills Bank & Trust Co grew its stake in shares of Biogen by 4.7% in the fourth quarter. Hills Bank & Trust Co now owns 4,570 shares of the biotechnology company's stock worth $699,000 after acquiring an additional 207 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Biogen by 517.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,320 shares of the biotechnology company's stock worth $21,458,000 after acquiring an additional 117,576 shares during the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in shares of Biogen in the fourth quarter worth $8,340,000. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in shares of Biogen in the fourth quarter worth $2,860,000. Institutional investors own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated 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 approximately $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 can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

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Biogen Price Performance

NASDAQ:BIIB traded down $0.05 during trading hours on Thursday, hitting $141.38. The company's stock had a trading volume of 958,824 shares, compared to its average volume of 1,236,406. The stock has a fifty day simple moving average of $142.51 and a 200-day simple moving average of $163.00. The company has a market capitalization of $20.69 billion, a P/E ratio of 12.63, a PEG ratio of 1.51 and a beta of 0.01. 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 Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

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

Analysts Set New Price Targets

A number of research firms have weighed in on BIIB. Bank of America reiterated a "neutral" rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Canaccord Genuity Group decreased their price target on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Piper Sandler reiterated a "neutral" rating and set a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Finally, HC Wainwright cut their price objective on Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of "Hold" and an average target price of $213.33.

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.