Biogen Inc. (NASDAQ:BIIB) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 16.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,645 shares of the biotechnology company’s stock after purchasing an additional 237 shares during the period. HB Wealth Management LLC’s holdings in Biogen were worth $355,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA boosted its position in shares of Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after buying an additional 251,915 shares during the period. Vanguard Group Inc. boosted its position in Biogen by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares during the last quarter. Wellington Management Group LLP increased its position in Biogen by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the last quarter. Morgan Stanley raised its stake in shares of Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after purchasing an additional 61,814 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Biogen during the 4th quarter valued at about $378,728,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $317.00 price objective on shares of Biogen in a report on Wednesday, June 26th. UBS Group reduced their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Truist Financial restated a “buy” rating and issued a $340.00 price target on shares of Biogen in a research report on Thursday, May 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 price objective on shares of Biogen in a research report on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.50.

Biogen Trading Up 0.7 %

NASDAQ BIIB traded up $1.49 on Friday, reaching $226.10. The company had a trading volume of 191,644 shares, compared to its average volume of 1,148,528. The stock’s 50 day moving average is $224.58 and its 200-day moving average is $228.00. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.26 and a beta of -0.04. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $286.92.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.40 earnings per share. Equities analysts predict that Biogen Inc. will post 15.63 earnings per share for the current year.

Biogen 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.