World Investment Advisors LLC Acquires Shares of 5,766 Biogen Inc. (NASDAQ:BIIB)

World Investment Advisors LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,766 shares of the biotechnology company's stock, valued at approximately $1,118,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the 2nd quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the 3rd quarter worth about $33,000. Blue Trust Inc. boosted its position in Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 127 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 49 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake 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 acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded up $0.46 during trading on Monday, hitting $150.49. The company's stock had a trading volume of 1,897,143 shares, compared to its average volume of 1,194,419. The company has a 50-day moving average of $171.21 and a 200-day moving average of $198.16. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.83 and a beta of -0.08. Biogen Inc. has a 12 month low of $148.60 and a 12 month high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.36 EPS. On average, sell-side analysts expect that Biogen Inc. will post 16.43 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 11th. Needham & Company LLC downgraded Biogen from a "buy" rating to a "hold" rating and set a $270.00 price objective on the stock. in a report on Monday, November 18th. Wedbush reduced their target price on Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. Finally, Morgan Stanley downgraded shares of Biogen from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.32.

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.