Raymond James Financial Inc. Purchases Shares of 141,968 Biogen Inc. (NASDAQ:BIIB)

Raymond James Financial Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 141,968 shares of the biotechnology company's stock, valued at approximately $21,710,000. Raymond James Financial Inc. owned approximately 0.10% of Biogen at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

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Biogen Stock Performance

Biogen stock traded down $1.69 on Wednesday, reaching $141.40. 838,758 shares of the stock were exchanged, compared to its average volume of 1,538,637. The stock has a market cap of $20.70 billion, a PE ratio of 12.64, a PEG ratio of 1.51 and a beta of 0.01. The firm has a fifty day moving average price of $142.70 and a two-hundred day moving average price of $163.15. Biogen Inc. has a twelve month low of $128.51 and a twelve month 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.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BIIB shares. Truist Financial cut their target price on Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Morgan Stanley reduced their price objective on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group dropped their target price on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $213.33.

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.