White Lighthouse Investment Management Inc. purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,125 shares of the biotechnology company's stock, valued at approximately $291,000.
Other institutional investors have also modified their holdings of the company. Colonial Trust Co SC boosted its stake 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 purchasing an additional 186 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Biogen in the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in Biogen in the 1st quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new stake in Biogen in the 1st quarter worth approximately $27,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Biogen in the 1st quarter worth approximately $29,000. 87.93% of the stock is currently owned by institutional investors.
Biogen Price Performance
Biogen stock opened at $130.67 on Friday. The company has a fifty day simple moving average of $129.99 and a 200-day simple moving average of $131.39. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.03 and a beta of 0.13. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $207.59.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.28 EPS. On average, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Mizuho decreased their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Citigroup lifted their price objective on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Truist Financial assumed coverage on shares of Biogen in a research note on Monday, July 21st. They set a "hold" rating and a $142.00 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. decreased 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. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $185.63.
View Our Latest Analysis on BIIB
Insider Buying and Selling at Biogen
In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider owned 6,330 shares of the company's stock, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.
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.
Further Reading
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