Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Brooklyn Investment Group

Brooklyn Investment Group increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 501.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 620 shares of the biotechnology company’s stock after purchasing an additional 517 shares during the quarter. Brooklyn Investment Group’s holdings in Biogen were worth $95,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Biogen during the 2nd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in Biogen during the third quarter worth about $33,000. Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Biogen during the 3rd quarter worth approximately $74,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Down 0.5 %

NASDAQ BIIB opened at $140.55 on Monday. The stock has a market cap of $20.48 billion, a PE ratio of 12.70, a P/E/G ratio of 1.69 and a beta of -0.07. The business has a 50 day moving average price of $154.27 and a two-hundred day moving average price of $184.26. Biogen Inc. has a fifty-two week low of $140.05 and a fifty-two week high of $252.17. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.36 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the topic of a number of analyst reports. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $315.00 to $138.00 in a research report on Thursday, January 2nd. Mizuho reduced their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen 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 currently has an average rating of “Hold” and a consensus price target of $230.00.

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.