Wilmington Savings Fund Society FSB Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Wilmington Savings Fund Society FSB acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 773 shares of the biotechnology company’s stock, valued at approximately $150,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 127 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. Fifth Third Bancorp grew its position in Biogen by 18.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,536 shares of the biotechnology company’s stock valued at $820,000 after purchasing an additional 551 shares during the period. &PARTNERS bought a new stake in Biogen during the 2nd quarter valued at $291,000. Finally, Retirement Systems of Alabama raised its holdings in Biogen by 0.4% during the second quarter. Retirement Systems of Alabama now owns 32,117 shares of the biotechnology company’s stock worth $7,445,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. BMO Capital Markets lowered their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Oppenheimer cut their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Finally, Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and cut their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.32.

Biogen Stock Performance

Shares of BIIB stock opened at $147.39 on Friday. The firm’s 50 day moving average is $168.32 and its 200 day moving average is $196.45. The stock has a market capitalization of $21.48 billion, a P/E ratio of 13.31, a PEG ratio of 1.83 and a beta of -0.08. Biogen Inc. has a 12 month low of $145.24 and a 12 month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.36 earnings per share. On average, sell-side analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current 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.