Wingate Wealth Advisors Inc. Invests $54,000 in Biogen Inc. (NASDAQ:BIIB)

Wingate Wealth Advisors Inc. purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 350 shares of the biotechnology company’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the third quarter worth about $33,000. Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Biogen in the fourth quarter worth about $41,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Biogen in the third quarter worth about $74,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $142.54 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $20.77 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.65 and a beta of -0.08. The stock has a fifty day moving average of $149.14 and a 200 day moving average of $175.44. Biogen Inc. has a 52 week low of $139.71 and a 52 week high of $244.95.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, Barclays decreased their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus target price of $228.80.

Biogen Company 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.