Merit Financial Group LLC Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Merit Financial Group LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 207.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,997 shares of the biotechnology company's stock after purchasing an additional 6,066 shares during the period. Merit Financial Group LLC's holdings in Biogen were worth $1,231,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after buying an additional 71 shares during the period. Quent Capital LLC increased its stake in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. increased its stake in Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares during the period. Israel Discount Bank of New York increased its stake in shares of Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after buying an additional 82 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Biogen by 5.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company's stock worth $247,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Up 2.1%

NASDAQ:BIIB opened at $133.13 on Friday. The company's 50 day moving average price is $122.80 and its 200-day moving average price is $138.30. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The stock has a market cap of $19.51 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.51 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results 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 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the business posted $3.67 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BIIB shares. Robert W. Baird decreased their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. HC Wainwright reduced their price target on Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Mizuho reduced their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $191.30.

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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