Kingswood Wealth Advisors LLC lowered its position in Biogen Inc. (NASDAQ:BIIB – Free Report) by 37.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,509 shares of the biotechnology company’s stock after selling 901 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Biogen were worth $231,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of BIIB. AQR Capital Management LLC boosted its position in shares of Biogen by 270.3% during the second quarter. AQR Capital Management LLC now owns 23,557 shares of the biotechnology company’s stock worth $5,461,000 after acquiring an additional 17,195 shares during the last quarter. Creative Planning lifted its stake in Biogen by 32.4% in the 2nd quarter. Creative Planning now owns 18,274 shares of the biotechnology company’s stock worth $4,236,000 after purchasing an additional 4,473 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Biogen by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock valued at $1,694,000 after purchasing an additional 543 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Biogen during the second quarter valued at about $1,387,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Biogen in the second quarter worth about $9,898,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.
Analysts Set New Price Targets
BIIB has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and lowered their target price for the company from $250.00 to $180.00 in a research report on Monday, December 9th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, Citigroup dropped their price objective on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and an average price target of $228.80.
Biogen Stock Down 1.6 %
NASDAQ:BIIB opened at $143.93 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market cap of $20.97 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.66 and a beta of -0.07. The company has a 50-day moving average of $150.79 and a 200 day moving average of $179.03. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99.
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $4.36 earnings per share. As a group, research analysts anticipate that Biogen Inc. will post 16.43 EPS for the current fiscal year.
Biogen 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.
Further Reading
- Five stocks we like better than Biogen
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- ServiceNow Stock Slips, But AI Expansion Signals Long-Term Gains
- Why is the Ex-Dividend Date Significant to Investors?
- Microsoft and Meta’s AI Investment Plans Are Full Steam Ahead
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Beyond Self-Driving Cars: Factory Automation Takes Center Stage
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.