Biogen Inc. $BIIB Stock: Alpha Family Trust Boosts Holdings

Key Points

• Alpha Family Trust increased its Biogen stake by 659.7% in the third quarter, adding 10,160 shares to hold 11,700 shares valued at about $2.64 million.
• Institutional investors and hedge funds own 87.93% of Biogen shares. Analysts’ consensus rating is Moderate Buy, with an average price target of $254.41.
• Biogen reported quarterly EPS of $2.62, beating estimates of $1.99, while revenue rose 10.6% year over year to $2.80 billion.

Alpha Family Trust raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 659.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,700 shares of the biotechnology company's stock after purchasing an additional 10,160 shares during the quarter. Biogen accounts for approximately 1.2% of Alpha Family Trust's portfolio, making the stock its 15th largest position. Alpha Family Trust's holdings in Biogen were worth $2,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BIIB. Bell Investment Advisors Inc acquired a new position in Biogen in the 2nd quarter valued at about $27,000. Align Financial LLC increased its position in shares of Biogen by 339.3% during the third quarter. Align Financial LLC now owns 123 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 95 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at about $29,000. Canton Hathaway LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at about $31,000. Finally, Ashurst Perkins Coie Trust Co grew its stake in Biogen by 92.2% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock worth $39,000 after buying an additional 83 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Biogen from $231.00 to $238.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. Weiss Ratings lowered shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 29th. Canaccord Genuity Group upped their target price on shares of Biogen from $248.00 to $272.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Truist Financial reiterated a "buy" rating and set a $260.00 target price (up from $235.00) on shares of Biogen in a research note on Thursday, October 29th. Finally, Bank of America raised their price target on Biogen from $219.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.41.

Biogen Stock Up 2.6%

BIIB opened at $254.87 on Tuesday. The business's fifty day moving average is $230.73 and its two-hundred day moving average is $203.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 2.89 and a beta of 0.10. Biogen Inc. has a one year low of $153.77 and a one year high of $261.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.63. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.63 billion. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.81 earnings per share. Analysts anticipate that Biogen Inc. will post 12.45 EPS for the current fiscal year.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy and Friedreich's ataxia.

Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich's ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer's disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.

Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.

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