Biogen Inc. (NASDAQ:BIIB) Shares Purchased by GeoWealth Management LLC

GeoWealth Management LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 103.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,903 shares of the biotechnology company’s stock after acquiring an additional 1,986 shares during the quarter. GeoWealth Management LLC’s holdings in Biogen were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Inspire Trust Co. N.A. grew its holdings in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. boosted its stake in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares during the period. Amundi increased its position in shares of Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after acquiring an additional 319,478 shares during the last quarter. Centre Asset Management LLC raised its stake in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Biogen in the 4th quarter worth approximately $407,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Wednesday, April 16th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. The Goldman Sachs Group lowered their target price on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley cut their price target on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, HC Wainwright reduced their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $213.15.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $118.61 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The stock has a market cap of $17.36 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The firm has a fifty day moving average price of $134.29 and a 200 day moving average price of $151.20.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS 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.