Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Leo Wealth LLC

Leo Wealth LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,835 shares of the biotechnology company's stock after buying an additional 3,903 shares during the period. Leo Wealth LLC's holdings in Biogen were worth $2,441,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BIIB. Integrated Quantitative Investments LLC purchased a new position in Biogen during the 4th quarter valued at about $407,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock valued at $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Biogen by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock valued at $8,405,000 after acquiring an additional 3,194 shares in the last quarter. APG Asset Management N.V. boosted its position in Biogen by 346.1% during the 4th quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company's stock valued at $15,572,000 after acquiring an additional 81,811 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Biogen by 36.1% during the 4th quarter. Prudential Financial Inc. now owns 576,276 shares of the biotechnology company's stock valued at $88,124,000 after acquiring an additional 152,992 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analysts Set New Price Targets

BIIB has been the topic of a number of analyst reports. Argus cut Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Oppenheimer set a $205.00 price objective on Biogen in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Morgan Stanley decreased their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler reiterated a "neutral" rating and set a $115.00 target price on shares of Biogen in a research note on Thursday, June 12th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $188.48.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of Biogen 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 transaction, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

Biogen Trading Down 0.5%

Shares of NASDAQ:BIIB traded down $0.63 during trading on Thursday, reaching $127.83. The company's stock had a trading volume of 580,830 shares, compared to its average volume of 1,564,913. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $236.48. The firm's 50 day simple moving average is $128.83 and its two-hundred day simple moving average is $133.65. The stock has a market capitalization of $18.73 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.02 and a beta of 0.14.

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 the consensus estimate of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 EPS. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.