Beacon Pointe Advisors LLC Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Beacon Pointe Advisors LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,537 shares of the biotechnology company’s stock after purchasing an additional 149 shares during the period. Beacon Pointe Advisors LLC’s holdings in Biogen were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BIIB. Signaturefd LLC increased its position in Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 71 shares during the period. Quent Capital LLC boosted its stake in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. Principal Securities Inc. grew its holdings in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 78 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Biogen by 5.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company’s stock valued at $247,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank Of America (Bofa) lowered their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Argus cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned 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 $194.56.

Biogen Stock Performance

NASDAQ BIIB opened at $121.80 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $17.83 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13. The business’s 50-day moving average price is $130.21 and its 200 day moving average price is $145.97. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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). Biogen had a return on equity of 14.98% and a net margin of 16.87%. 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 previous year, the company earned $3.67 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

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.