Arlington Partners LLC Acquires Shares of 27,725 Biogen Inc. (NASDAQ:BIIB)

Arlington Partners LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,725 shares of the biotechnology company's stock, valued at approximately $3,794,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after buying an additional 70,368 shares during the period. Geode Capital Management LLC increased its holdings in shares of Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after purchasing an additional 82,456 shares during the period. Norges Bank purchased a new stake in shares of Biogen in the fourth quarter worth approximately $355,569,000. Invesco Ltd. boosted its holdings in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock valued at $295,705,000 after purchasing an additional 21,170 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Biogen stock traded down $0.39 during trading hours on Thursday, hitting $126.92. The stock had a trading volume of 864,859 shares, compared to its average volume of 1,431,542. The company has a market cap of $18.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a 50-day moving average of $125.37 and a two-hundred day moving average of $135.73.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of a number of research reports. Wedbush reissued a "neutral" rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada set a $213.00 price objective on Biogen and gave the stock an "outperform" rating in a report on Wednesday. Truist Financial cut their price target on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Oppenheimer set a $205.00 price target on Biogen in a report on Friday, May 2nd. Finally, HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research report on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $188.48.

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.