Seizert Capital Partners LLC Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Seizert Capital Partners LLC grew its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 260.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,671 shares of the biotechnology company's stock after buying an additional 28,667 shares during the period. Seizert Capital Partners LLC's holdings in Biogen were worth $6,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the third quarter valued at about $33,000. SRS Capital Advisors Inc. bought a new position in shares of Biogen in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new position in shares of Biogen in the fourth quarter worth approximately $41,000. Venturi Wealth Management LLC increased its position in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 93 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position 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 worth $45,000 after purchasing an additional 90 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 0.8 %

BIIB traded up $1.12 during trading on Wednesday, reaching $143.77. The stock had a trading volume of 1,185,023 shares, compared to its average volume of 1,496,404. The stock's 50 day moving average is $144.05 and its two-hundred day moving average is $167.25. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.51 and a beta of -0.08. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup cut their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Scotiabank cut their target price on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. BMO Capital Markets cut their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. Truist Financial cut their target price on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research started coverage on Biogen in a research note on Friday, November 15th. They set a "peer perform" rating for the company. 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.com, the company currently has a consensus rating of "Hold" and an average 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.