Wedmont Private Capital Has $546,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Wedmont Private Capital grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 187.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,670 shares of the biotechnology company's stock after buying an additional 2,392 shares during the period. Wedmont Private Capital's holdings in Biogen were worth $546,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Biogen in the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC boosted its stake in Biogen by 73.8% in the 3rd 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 period. FSA Wealth Management LLC bought a new position in Biogen during the 3rd quarter worth about $74,000. Finally, TD Private Client Wealth LLC increased its holdings in Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $0.23 during mid-day trading on Thursday, reaching $141.23. 1,198,749 shares of the company were exchanged, compared to its average volume of 1,262,045. The stock has a market capitalization of $20.58 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.69 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company's 50-day simple moving average is $155.57 and its 200-day simple moving average is $185.80. Biogen Inc. has a twelve month low of $140.05 and a twelve month high of $252.17.

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

Analyst Ratings Changes

A number of analysts have recently commented on BIIB shares. Bank of America restated a "neutral" rating and issued a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. UBS Group reduced their price target on Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a research report on Thursday, October 3rd. Robert W. Baird raised their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. BMO Capital Markets lowered shares of Biogen from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Sixteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.