Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. increased its stake in Biogen Inc. (NASDAQ:BIIB) by 92.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,786 shares of the biotechnology company’s stock after buying an additional 1,341 shares during the period. Great Valley Advisor Group Inc.’s holdings in Biogen were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in Biogen during the 3rd quarter worth approximately $26,000. Gladius Capital Management LP bought a new position in Biogen during the third quarter worth $28,000. KB Financial Partners LLC boosted its holdings in 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 period. Hexagon Capital Partners LLC increased its stake in Biogen by 76.1% during 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 during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Biogen during the fourth quarter worth $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price target on shares of Biogen in a report on Wednesday, April 24th. Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. HSBC raised their price target on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday. Bank of America reduced their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $340.00 target price on shares of Biogen in a research report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.92.

Biogen Stock Performance

BIIB opened at $217.51 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The firm has a market cap of $31.67 billion, a PE ratio of 27.15, a P/E/G ratio of 2.21 and a beta of -0.01. The business has a fifty day simple moving average of $212.00 and a 200-day simple moving average of $232.09. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.40 earnings per share. As a group, equities analysts predict that Biogen Inc. will post 15.6 EPS for the current fiscal 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.