Wedmont Private Capital raised its position in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 187.2% in the fourth quarter, HoldingsChannel reports. The fund owned 3,670 shares of the biotechnology company’s stock after acquiring an additional 2,392 shares during the period. Wedmont Private Capital’s holdings in Biogen were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Choreo LLC bought a new position in Biogen in the 2nd quarter valued at about $297,000. Parallel Advisors LLC boosted its holdings in shares of Biogen by 8.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,982 shares of the biotechnology company’s stock valued at $459,000 after purchasing an additional 156 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Biogen in the 2nd quarter valued at $239,000. Moors & Cabot Inc. lifted its position in shares of Biogen by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company’s stock worth $262,000 after buying an additional 115 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Biogen by 68.9% in the second quarter. E Fund Management Co. Ltd. now owns 7,067 shares of the biotechnology company’s stock valued at $1,638,000 after buying an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Barclays lowered their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $230.00.
Biogen Trading Down 1.4 %
NASDAQ BIIB opened at $141.00 on Thursday. The business has a fifty day simple moving average of $156.24 and a 200 day simple moving average of $186.11. The firm has a market capitalization of $20.55 billion, a P/E ratio of 12.74, a PEG ratio of 1.74 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $140.87 and a 12 month high of $252.17.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.36 EPS. On average, analysts predict that Biogen Inc. will post 16.43 EPS for the current fiscal year.
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.
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