Janney Montgomery Scott LLC Purchases 5,620 Shares of Biogen Inc. (NASDAQ:BIIB)

Janney Montgomery Scott LLC increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 45.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,941 shares of the biotechnology company's stock after purchasing an additional 5,620 shares during the quarter. Janney Montgomery Scott LLC's holdings in Biogen were worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Biogen during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Biogen during the first quarter valued at approximately $26,000. Colonial Trust Co SC increased its holdings in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Biogen during the fourth quarter valued at approximately $32,000. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler reaffirmed a "neutral" rating and set a $115.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Finally, HC Wainwright dropped their price target on shares of Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $188.48.

Biogen Stock Up 0.8%

NASDAQ:BIIB opened at $127.31 on Thursday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The company has a 50-day moving average of $125.37 and a 200 day moving average of $135.73. The firm has a market cap of $18.65 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.00 and a beta of 0.14. 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 issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. Biogen's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 EPS. As a group, research analysts anticipate 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.

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