Proathlete Wealth Management LLC Purchases 223 Shares of Biogen Inc. (NASDAQ:BIIB)

Proathlete Wealth Management LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,067 shares of the biotechnology company’s stock after acquiring an additional 223 shares during the period. Proathlete Wealth Management LLC’s holdings in Biogen were worth $283,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Larson Financial Group LLC raised its holdings in Biogen by 640.9% during 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. Lee Danner & Bass Inc. bought a new stake in Biogen during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in Biogen during the first quarter worth about $26,000. Colonial Trust Co SC raised its holdings in Biogen by 9,300.0% during 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. Finally, OFI Invest Asset Management bought a new stake in Biogen during the fourth quarter worth about $32,000. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BIIB shares. JPMorgan Chase & Co. dropped their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Piper Sandler restated a “neutral” rating and issued a $115.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Truist Financial dropped their price objective on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Canaccord Genuity Group dropped their price objective on Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Oppenheimer set a $205.00 price objective on Biogen in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average price target of $188.19.

Biogen Trading Down 0.0%

Shares of NASDAQ:BIIB opened at $126.54 on Friday. The company has a market capitalization of $18.54 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.00 and a beta of 0.14. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. 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 business’s 50 day simple moving average is $124.59 and its 200 day simple moving average is $136.65.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.67 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.