CVA Family Office LLC Raises Holdings in Biogen Inc. (NASDAQ:BIIB)

CVA Family Office LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 71.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 231 shares of the biotechnology company’s stock after acquiring an additional 96 shares during the period. CVA Family Office LLC’s holdings in Biogen were worth $32,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares during the period. Principal Securities Inc. boosted its position in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after buying an additional 78 shares during the period. Israel Discount Bank of New York boosted its position in shares of Biogen by 6.2% during the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock worth $215,000 after buying an additional 82 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Biogen by 5.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company’s stock worth $247,000 after buying an additional 87 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Biogen by 4.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company’s stock worth $358,000 after buying an additional 92 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB opened at $130.65 on Monday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The firm has a fifty day simple moving average of $123.75 and a 200 day simple moving average of $137.27. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 0.14. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the company posted $3.67 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of several research analyst reports. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird lowered their price target on Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 target price for the company. in a report on Monday, April 28th. Morgan Stanley decreased their target price on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $188.19.

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.