Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 5,234 Biogen Inc. (NASDAQ:BIIB)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,234 shares of the biotechnology company's stock, valued at approximately $1,354,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP purchased a new position in shares of Biogen during the third quarter worth about $28,000. KB Financial Partners LLC increased its position in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Biogen in the 4th quarter valued at about $36,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company's stock, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eric K. Rowinsky bought 455 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 262 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company's stock, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of BIIB stock traded up $0.80 during midday trading on Wednesday, reaching $219.72. 758,527 shares of the company traded hands, compared to its average volume of 1,202,147. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The firm's 50 day simple moving average is $211.85 and its two-hundred day simple moving average is $231.09. The firm has a market cap of $31.99 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $3.40 EPS. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research reports. Barclays reduced their price objective on Biogen from $215.00 to $200.00 and set an "equal weight" rating for the company in a research note on Thursday, April 25th. BMO Capital Markets decreased their price target on shares of Biogen from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. Canaccord Genuity Group dropped their price objective on shares of Biogen from $310.00 to $305.00 and set a "buy" rating on the stock in a research note on Tuesday, February 20th. Wells Fargo & Company downgraded shares of Biogen from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. Finally, HC Wainwright dropped their price target on Biogen from $325.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Biogen presently has an average rating of "Moderate Buy" and an average target price of $290.92.

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.