Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 13.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,386 shares of the biotechnology company’s stock after buying an additional 389 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Biogen were worth $785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Leo Wealth LLC acquired a new position in shares of Biogen in the fourth quarter worth $2,265,000. Duality Advisers LP acquired a new position in Biogen in the 1st quarter valued at about $1,290,000. Tocqueville Asset Management L.P. lifted its holdings in Biogen by 924.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after purchasing an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Biogen by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.0 %

NASDAQ:BIIB opened at $204.76 on Tuesday. The business’s 50-day moving average is $215.30 and its two-hundred day moving average is $217.00. The firm has a market capitalization of $29.81 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.06 and a beta of -0.04. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $270.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $4.02 EPS. Research analysts predict that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Barclays dropped their target price on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Piper Sandler decreased their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 price objective on shares of Biogen in a research note on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.35.

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.