Sax Wealth Advisors LLC Invests $337,000 in Biogen Inc. (NASDAQ:BIIB)

Sax Wealth Advisors LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,203 shares of the biotechnology company’s stock, valued at approximately $337,000.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the second quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in Biogen in the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC increased its position in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Biogen in the third quarter worth about $74,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.5 %

BIIB opened at $140.55 on Friday. The stock has a market capitalization of $20.48 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.69 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 12 month low of $140.05 and a 12 month high of $252.17. The firm’s fifty day simple moving average is $154.27 and its 200 day simple moving average is $184.55.

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. As a group, research analysts anticipate that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BIIB. Oppenheimer lowered their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $138.00 in a research report on Thursday, January 2nd. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. dropped their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Monday, November 18th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $230.00.

About Biogen

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.