Wealth Enhancement Advisory Services LLC Has $2.61 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Wealth Enhancement Advisory Services LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,049 shares of the biotechnology company's stock after acquiring an additional 2,606 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Biogen were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC increased its stake in shares of Biogen by 71.1% during the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 96 shares during the period. NorthCrest Asset Manangement LLC increased its position in shares of Biogen by 6.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 34,532 shares of the biotechnology company's stock valued at $4,725,000 after purchasing an additional 2,126 shares during the period. Fifth Third Bancorp increased its position in shares of Biogen by 69.1% during the 1st quarter. Fifth Third Bancorp now owns 5,489 shares of the biotechnology company's stock valued at $751,000 after purchasing an additional 2,243 shares during the period. CX Institutional acquired a new position in shares of Biogen during the 1st quarter valued at $180,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Biogen by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company's stock worth $6,130,000 after buying an additional 1,336 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 3.6%

BIIB traded up $4.48 on Tuesday, reaching $130.07. 1,919,281 shares of the company traded hands, compared to its average volume of 1,431,916. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 12.84, a PEG 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. The stock's 50 day moving average price is $126.09 and its 200-day moving average price is $134.82. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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 15.07% and a return on equity of 14.03%. The company 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 firm earned $3.67 earnings per share. The company's revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada set a $213.00 target price on Biogen and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Mizuho reduced their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a report on Thursday, June 12th. Oppenheimer set a $205.00 target price on shares of Biogen in a research note on Friday, May 2nd. Finally, Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Twenty investment 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, the stock presently has an average rating of "Hold" and an average target price of $188.48.

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.