3,354 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,354 shares of the biotechnology company’s stock, valued at approximately $459,000.

Several other hedge funds also recently modified their holdings of the company. Tredje AP fonden acquired a new stake in shares of Biogen during the first quarter worth approximately $6,842,000. XTX Topco Ltd increased its holdings in shares of Biogen by 633.1% during the first quarter. XTX Topco Ltd now owns 16,743 shares of the biotechnology company’s stock worth $2,291,000 after buying an additional 14,459 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Biogen by 7.8% during the first quarter. Harvest Fund Management Co. Ltd now owns 9,246 shares of the biotechnology company’s stock worth $1,265,000 after buying an additional 670 shares in the last quarter. S&CO Inc. acquired a new stake in shares of Biogen during the first quarter worth approximately $351,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Biogen during the first quarter worth approximately $1,345,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $132.20 on Tuesday. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.78 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The company has a 50-day simple moving average of $129.97 and a 200 day simple moving average of $131.63. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $207.59.

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

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Royal Bank Of Canada raised their price target on shares of Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a report on Friday. HSBC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a report on Monday, April 28th. Canaccord Genuity Group lowered their price target on shares of Biogen from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Hsbc Global Res lowered shares of Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Truist Financial initiated coverage on shares of Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.63.

Insider Transactions at Biogen

In other Biogen 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 value of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

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.