Legacy Wealth Asset Management LLC Has $431,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Legacy Wealth Asset Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,998 shares of the biotechnology company’s stock after buying an additional 77 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Biogen were worth $431,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth approximately $27,000. Gladius Capital Management LP bought a new stake in Biogen during the 3rd quarter worth approximately $28,000. KB Financial Partners LLC raised its stake in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $224.61 on Friday. The firm has a market cap of $32.70 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.26 and a beta of -0.04. The firm’s 50 day simple moving average is $224.58 and its 200-day simple moving average is $228.00. Biogen Inc. has a one year low of $189.44 and a one year high of $287.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

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

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a report on Monday, April 29th. Wedbush raised their target price on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and issued a $294.00 target price on shares of Biogen in a report on Friday, June 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, May 23rd. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average price target of $286.50.

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.