Arkadios Wealth Advisors Invests $459,000 in Biogen Inc. (NASDAQ:BIIB)

Key Points

• Arkadios Wealth Advisors has acquired a new stake in Biogen Inc., purchasing 3,354 shares valued at approximately $459,000 during the first quarter.
• Biogen reported a quarterly earnings per share (EPS) of $5.47, surpassing analyst expectations, with revenues reaching $2.65 billion, marking a 7.3% year-over-year growth.
• Analysts have varied opinions on Biogen, with upgrades and downgrades reflected in target prices ranging from $118.00 to $265.00, resulting in a consensus rating of "Hold."

Arkadios Wealth Advisors purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,354 shares of the biotechnology company's stock, valued at approximately $459,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in Biogen in the first quarter valued at $26,000. Colonial Trust Co SC increased its stake in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares during the period. Private Trust Co. NA raised its holdings in shares of Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Biogen by 71.1% during the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Biogen in the 1st quarter worth approximately $35,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $3.55 during trading on Wednesday, reaching $129.34. The company had a trading volume of 1,538,100 shares, compared to its average volume of 1,573,155. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $207.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The business's 50 day moving average price is $130.06 and its 200-day moving average price is $131.64. The stock has a market cap of $18.96 billion, a PE ratio of 12.37, a PEG ratio of 1.04 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $5.28 EPS. Analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on BIIB shares. Citigroup lifted their target price on Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Biogen from a "hold" rating to a "buy" rating in a report on Saturday. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Finally, HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Twenty-one research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $185.63.

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.