Exchange Traded Concepts LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 37.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,286 shares of the biotechnology company’s stock after buying an additional 624 shares during the period. Exchange Traded Concepts LLC’s holdings in Biogen were worth $350,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Ashton Thomas Securities LLC purchased a new stake in Biogen in the third quarter worth $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares in the last quarter. Versant Capital Management Inc lifted its position in Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Biogen in the third quarter worth about $74,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on BIIB. Robert W. Baird boosted their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and cut their price objective for the company from $250.00 to $180.00 in a research report on Monday, December 9th. BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $228.80.
Biogen Stock Performance
Shares of Biogen stock opened at $146.23 on Friday. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business has a 50-day moving average of $151.32 and a 200 day moving average of $179.80. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $251.99.
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $4.36 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Biogen Inc. will post 16.41 earnings per share for the current year.
About Biogen
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.
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