Money Concepts Capital Corp trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 34.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,975 shares of the biotechnology company's stock after selling 3,203 shares during the quarter. Money Concepts Capital Corp's holdings in Biogen were worth $818,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BIIB. Illinois Municipal Retirement Fund boosted its stake in shares of Biogen by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 64,138 shares of the biotechnology company's stock valued at $8,777,000 after purchasing an additional 1,957 shares during the period. Old North State Wealth Management LLC lifted its holdings in Biogen by 28.7% during the 1st quarter. Old North State Wealth Management LLC now owns 19,904 shares of the biotechnology company's stock worth $2,724,000 after buying an additional 4,437 shares in the last quarter. Perpetual Ltd purchased a new position in Biogen in the 1st quarter valued at approximately $246,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Biogen by 11.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 453,529 shares of the biotechnology company's stock worth $62,061,000 after acquiring an additional 45,253 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Biogen during the first quarter worth $122,000. 87.93% of the stock is owned by institutional investors and hedge funds.
Biogen Stock Performance
Shares of NASDAQ:BIIB traded up $4.43 on Tuesday, reaching $130.02. The company's stock had a trading volume of 1,915,397 shares, compared to its average volume of 1,429,642. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The stock has a market capitalization of $19.05 billion, a P/E ratio of 12.84, a PEG ratio of 1.00 and a beta of 0.14. The stock's 50-day moving average is $125.86 and its two-hundred day moving average is $134.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.
Analysts Set New Price Targets
A number of research firms recently issued reports on BIIB. Wedbush reiterated a "neutral" rating and issued a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Mizuho decreased their price objective on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price target 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. Finally, Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $188.48.
View Our Latest Report on BIIB
Biogen Company Profile
(
Free Report)
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.
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