Clarus Wealth Advisors Buys New Position in Biogen Inc (NASDAQ:BIIB)

Clarus Wealth Advisors bought a new stake in Biogen Inc (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,540 shares of the biotechnology company’s stock, valued at approximately $591,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First National Bank of Omaha grew its holdings in shares of Biogen by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock worth $3,889,000 after purchasing an additional 45 shares during the period. First Hawaiian Bank boosted its holdings in Biogen by 0.7% in the 3rd quarter. First Hawaiian Bank now owns 6,359 shares of the biotechnology company’s stock worth $1,481,000 after acquiring an additional 46 shares during the period. Fulton Bank N.A. boosted its holdings in Biogen by 4.1% in the 2nd quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares during the period. Sigma Investment Counselors Inc. boosted its holdings in Biogen by 4.9% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 48 shares during the period. Finally, LGL Partners LLC boosted its holdings in Biogen by 4.5% in the 2nd quarter. LGL Partners LLC now owns 1,173 shares of the biotechnology company’s stock worth $274,000 after acquiring an additional 50 shares during the period. Institutional investors own 86.18% of the company’s stock.

Shares of BIIB stock traded up $0.28 on Friday, hitting $223.28. 172,075 shares of the stock traded hands, compared to its average volume of 1,702,717. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22. The company has a market capitalization of $40.94 billion, a PE ratio of 8.52, a PEG ratio of 1.12 and a beta of 1.02. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $344.00. The company’s fifty day moving average is $228.57 and its 200 day moving average is $231.23.



Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.80 EPS. As a group, equities research analysts expect that Biogen Inc will post 32.38 EPS for the current year.

A number of equities analysts have weighed in on BIIB shares. Royal Bank of Canada set a $242.00 price target on Biogen and gave the stock a “hold” rating in a report on Friday, September 6th. Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a report on Friday, July 26th. JPMorgan Chase & Co. set a $244.00 target price on Biogen and gave the company a “hold” rating in a research report on Monday, September 23rd. BidaskClub lowered Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Canaccord Genuity upped their target price on Biogen from $275.00 to $285.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $270.09.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: Strike Price

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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