1,048 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Financial Partners Group LLC

Financial Partners Group LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, Holdings Channel reports. The firm acquired 1,048 shares of the biotechnology company’s stock, valued at approximately $226,000.

Several other large investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in shares of Biogen by 1.6% during the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after acquiring an additional 251,915 shares in the last quarter. Vanguard Group Inc. increased its holdings in Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. Wellington Management Group LLP increased its holdings in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the period. Morgan Stanley raised its position in Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after purchasing an additional 61,814 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Biogen in the 4th quarter worth $378,728,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research reports. Barclays cut their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $294.00 price target on shares of Biogen in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. UBS Group cut their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Truist Financial restated a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.50.

Biogen Stock Performance

Shares of NASDAQ BIIB traded up $3.10 during mid-day trading on Friday, hitting $231.82. The stock had a trading volume of 2,242,754 shares, compared to its average volume of 1,032,978. The firm has a market cap of $33.75 billion, a PE ratio of 28.94, a PEG ratio of 2.33 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a 50 day moving average of $222.22 and a two-hundred day moving average of $228.36. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $287.60.

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