Integrated Wealth Concepts LLC Has $685,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Integrated Wealth Concepts LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 185.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,479 shares of the biotechnology company's stock after buying an additional 2,908 shares during the period. Integrated Wealth Concepts LLC's holdings in Biogen were worth $685,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. lifted its stake in Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after buying an additional 70,368 shares in the last quarter. Geode Capital Management LLC grew its position in Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen in the fourth quarter worth $355,569,000. Finally, Invesco Ltd. boosted its position in shares of Biogen by 30.6% in the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after buying an additional 499,074 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Biogen Stock Performance

Shares of BIIB stock traded down $1.73 during trading hours on Monday, reaching $121.80. 1,099,004 shares of the company's stock were exchanged, compared to its average volume of 1,355,214. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.83 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.51 and a beta of 0.13. The business has a fifty day moving average price of $130.58 and a 200-day moving average price of $146.45.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share 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 the consensus estimate of $2.25 billion. During the same period last year, the company earned $3.67 earnings per share. Biogen's revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BIIB shares. BMO Capital Markets decreased their price objective on Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Citigroup dropped their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Friday. Finally, Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Twenty 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 currently has an average rating of "Hold" and an average price target of $194.56.

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.