Sax Wealth Advisors LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Sax Wealth Advisors LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,203 shares of the biotechnology company's stock, valued at approximately $337,000.

A number of other hedge funds have also made changes to their positions in the stock. Moors & Cabot Inc. increased its holdings in Biogen by 11.3% in the second quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company's stock valued at $262,000 after buying an additional 115 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Biogen by 6.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,229 shares of the biotechnology company's stock worth $517,000 after acquiring an additional 128 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Biogen by 1.8% in the 2nd quarter. Blair William & Co. IL now owns 13,094 shares of the biotechnology company's stock valued at $3,035,000 after acquiring an additional 227 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Biogen by 59.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 173,664 shares of the biotechnology company's stock valued at $40,259,000 after acquiring an additional 64,505 shares in the last quarter. Finally, AE Wealth Management LLC bought a new position in Biogen during the second quarter worth $259,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Price Performance

BIIB traded down $0.68 during trading on Friday, reaching $140.55. The stock had a trading volume of 1,149,845 shares, compared to its average volume of 1,295,436. Biogen Inc. has a 1-year low of $140.05 and a 1-year high of $252.17. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. The stock has a 50 day moving average of $154.27 and a two-hundred day moving average of $184.55. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $4.36 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. William Blair reiterated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Wedbush decreased their price target on shares of Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective on the stock. in a research note on Monday, December 16th. Raymond James restated a "market perform" rating on shares of Biogen in a research note on Thursday, October 10th. Finally, Piper Sandler lowered Biogen from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $230.00.

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.