Blackhawk Capital Partners LLC. Acquires Shares of 2,789 Biogen Inc. (NASDAQ:BIIB)

Blackhawk Capital Partners LLC. acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,789 shares of the biotechnology company's stock, valued at approximately $382,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BIIB. Larson Financial Group LLC boosted its holdings in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new position in Biogen in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in Biogen in the 1st quarter valued at $26,000. Colonial Trust Co SC boosted its holdings in Biogen by 9,300.0% in the 4th 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. Finally, Private Trust Co. NA boosted its holdings in Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares during the period. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BIIB shares. Canaccord Genuity Group cut their price target on shares of Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Truist Financial cut their price target on shares of Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Morgan Stanley cut their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Piper Sandler reissued a "neutral" rating and issued a $115.00 price target on shares of Biogen in a report on Thursday, June 12th. Finally, HC Wainwright reissued a "buy" rating and issued a $187.00 price target on shares of Biogen in a report on Thursday, June 26th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $188.48.

Biogen Trading Down 0.8%

NASDAQ:BIIB traded down $1.12 during trading hours on Friday, reaching $134.21. The company's stock had a trading volume of 1,137,456 shares, compared to its average volume of 1,448,157. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.08 and a beta of 0.14. The firm has a 50-day simple moving average of $128.17 and a 200-day simple moving average of $134.07. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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 firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. Biogen's revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.