SRS Capital Advisors Inc. Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

SRS Capital Advisors Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 215 shares of the biotechnology company’s stock, valued at approximately $33,000.

A number of other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after purchasing an additional 304,778 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Biogen during the 3rd quarter valued at approximately $55,826,000. Finally, State Street Corp increased its holdings in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIIB shares. BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Piper Sandler reissued a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Finally, Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target on the stock. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Up 2.0 %

Shares of BIIB opened at $150.38 on Friday. The firm has a market cap of $22.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company’s 50-day moving average price is $143.98 and its 200 day moving average price is $166.73. 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 issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 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.