FSA Wealth Management LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

FSA Wealth Management LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 384 shares of the biotechnology company’s stock, valued at approximately $74,000.

Several other institutional investors have also modified their holdings of BIIB. Primecap Management Co. CA grew its position in Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after acquiring an additional 117,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Biogen by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after purchasing an additional 162,511 shares during the last quarter. Finally, abrdn plc raised its holdings in Biogen by 6.2% in the 3rd quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock valued at $110,123,000 after buying an additional 33,333 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.5 %

BIIB opened at $160.63 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30. The company has a market cap of $23.41 billion, a P/E ratio of 14.51, a PEG ratio of 1.52 and a beta of -0.06. The business’s 50-day simple moving average is $177.86 and its 200-day simple moving average is $202.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company earned $4.36 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. Citigroup started coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target for the company. Wolfe Research assumed coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Royal Bank of Canada decreased their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Oppenheimer lowered their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a report on Monday, November 18th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.