Biogen Inc. (NASDAQ:BIIB) Position Boosted by West Oak Capital LLC

West Oak Capital LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 2,000.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 945 shares of the biotechnology company’s stock after purchasing an additional 900 shares during the quarter. West Oak Capital LLC’s holdings in Biogen were worth $145,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Biogen during the 2nd quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in Biogen during the third quarter valued at $33,000. Venturi Wealth Management LLC lifted its stake in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Biogen in the third quarter worth approximately $74,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 1.3 %

Shares of BIIB stock traded down $1.93 during trading hours on Friday, hitting $148.82. 1,256,254 shares of the company were exchanged, compared to its average volume of 1,168,559. The company has a market capitalization of $21.69 billion, a PE ratio of 13.44, a PEG ratio of 1.74 and a beta of -0.07. 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 Inc. has a 52 week low of $145.07 and a 52 week high of $252.94. The business has a 50 day moving average of $157.88 and a two-hundred day moving average of $188.34.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during 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%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $4.36 earnings per share. Analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Wedbush lowered their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Bank of America reaffirmed a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.00.

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.