Wedmont Private Capital Acquires 253 Shares of Biogen Inc. (NASDAQ:BIIB)

Wedmont Private Capital grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) by 27.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,163 shares of the biotechnology company’s stock after purchasing an additional 253 shares during the period. Wedmont Private Capital’s holdings in Biogen were worth $325,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Exos TFP Holdings LLC bought a new position in shares of Biogen during the third quarter valued at $126,000. Brookstone Capital Management raised its stake in shares of Biogen by 44.9% during the third quarter. Brookstone Capital Management now owns 7,235 shares of the biotechnology company’s stock valued at $1,835,000 after acquiring an additional 2,242 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Biogen by 1.9% during the second quarter. Mutual of America Capital Management LLC now owns 19,951 shares of the biotechnology company’s stock worth $4,069,000 after buying an additional 367 shares during the period. Assetmark Inc. increased its position in shares of Biogen by 39.7% during the third quarter. Assetmark Inc. now owns 1,528 shares of the biotechnology company’s stock worth $408,000 after buying an additional 434 shares during the period. Finally, Trexquant Investment LP increased its position in shares of Biogen by 29.9% during the third quarter. Trexquant Investment LP now owns 6,749 shares of the biotechnology company’s stock worth $1,802,000 after buying an additional 1,553 shares during the period. Institutional investors own 84.40% of the company’s stock.

Biogen Stock Down 0.8 %

BIIB opened at $263.16 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.99 and a quick ratio of 2.58. The company’s 50-day moving average is $278.59 and its 200 day moving average is $269.42. Biogen Inc. has a fifty-two week low of $187.16 and a fifty-two week high of $311.88. The firm has a market capitalization of $38.02 billion, a P/E ratio of 12.57, a PEG ratio of 2.22 and a beta of 0.19.

Biogen (NASDAQ:BIIB – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. Biogen had a net margin of 29.95% and a return on equity of 20.96%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm earned $3.39 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis. Research analysts expect that Biogen Inc. will post 15.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Biogen in a research report on Thursday. They set a “strong-buy” rating for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $370.00 price objective on shares of Biogen in a research report on Thursday, December 1st. Jefferies Financial Group increased their price objective on shares of Biogen from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 30th. Atlantic Securities increased their price objective on shares of Biogen from $220.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, December 1st. Finally, UBS Group increased their price objective on shares of Biogen from $337.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $315.38.

Biogen Company Profile

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.