Wealth Enhancement Advisory Services LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 232.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,443 shares of the biotechnology company's stock after acquiring an additional 11,504 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Biogen were worth $2,514,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Biogen in the 4th quarter worth $25,000. Larson Financial Group LLC grew its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Colonial Trust Co SC grew its position in Biogen by 9,300.0% in the fourth 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. SRS Capital Advisors Inc. purchased a new position in Biogen in the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Biogen during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 87.93% of the company's stock.
Insider Activity
In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company's stock.
Biogen Trading Down 1.1%
BIIB stock traded down $1.50 during mid-day trading on Thursday, hitting $130.36. 1,235,239 shares of the company were exchanged, compared to its average volume of 1,418,811. 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 firm has a market capitalization of $19.10 billion, a P/E ratio of 11.65, a PEG ratio of 1.51 and a beta of 0.12. The business has a fifty day simple moving average of $122.91 and a 200-day simple moving average of $138.77. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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 company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $3.67 EPS. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on BIIB. BMO Capital Markets dropped their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley dropped their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $191.30.
Get Our Latest Stock Analysis on Biogen
About Biogen
(
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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