Biogen Inc. (NASDAQ:BIIB) Holdings Lifted by HB Wealth Management LLC

HB Wealth Management LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 51.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,409 shares of the biotechnology company’s stock after purchasing an additional 820 shares during the period. HB Wealth Management LLC’s holdings in Biogen were worth $330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC grew its position 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 during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Biogen in the first quarter valued at approximately $26,000. Private Trust Co. NA boosted its holdings in shares of Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. CVA Family Office LLC boosted its holdings in shares of Biogen by 71.1% in 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 in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Biogen in the first quarter valued at approximately $35,000. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

BIIB has been the topic of several research reports. Argus cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. HSBC downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a research report on Monday, April 28th. Royal Bank Of Canada upped their price target on shares of Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Thursday, June 12th. Finally, HC Wainwright increased their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday. 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.63.

Biogen Price Performance

BIIB opened at $131.95 on Friday. The company has a fifty day moving average price of $129.84 and a two-hundred day moving average price of $131.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.50. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $213.50. The firm has a market capitalization of $19.33 billion, a PE ratio of 12.61, a P/E/G ratio of 1.85 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business earned $5.28 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current 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.