Crowley Wealth Management Inc. Takes Position in Biogen Inc. (NASDAQ:BIIB)

Crowley Wealth Management Inc. acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,175 shares of the biotechnology company’s stock, valued at approximately $944,000. Biogen makes up about 0.8% of Crowley Wealth Management Inc.’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of 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 purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Biogen in the 4th quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter worth $32,000. SRS Capital Advisors Inc. acquired a new stake in Biogen during the 4th quarter worth $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Biogen during the fourth quarter worth $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s 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 completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Sanford C. Bernstein started coverage on Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. BMO Capital Markets lowered their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reduced their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $140.90 on Friday. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01. The business’s 50 day moving average is $142.16 and its two-hundred day moving average is $162.11. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts expect that Biogen Inc. will post 15.83 EPS 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.