Harbor Capital Advisors Inc. Acquires Shares of 2,253 Biogen Inc. (NASDAQ:BIIB)

Harbor Capital Advisors Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,253 shares of the biotechnology company's stock, valued at approximately $308,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Biogen in the 4th quarter valued at $25,000. Colonial Trust Co SC increased 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 worth $29,000 after acquiring an additional 186 shares in the last quarter. OFI Invest Asset Management acquired a new position in Biogen during the fourth quarter worth $32,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen during the fourth quarter valued at $33,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Argus downgraded shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial lowered their price target on Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Thursday. Finally, Morgan Stanley dropped their target price 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. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of "Hold" and a consensus target price of $188.19.

Biogen Stock Performance

Shares of BIIB stock opened at $130.65 on Friday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The firm has a 50 day moving average of $123.75 and a two-hundred day moving average of $137.42. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $19.14 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results 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 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business earned $3.67 EPS. Biogen's revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts predict 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.

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