American Research & Management Co. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,651 shares of the biotechnology company’s stock after selling 140 shares during the period. American Research & Management Co.’s holdings in Biogen were worth $1,861,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Northwest Bancshares Inc. raised its position in shares of Biogen by 19.9% during the 4th quarter. Northwest Bancshares Inc. now owns 13,509 shares of the biotechnology company’s stock valued at $3,308,000 after acquiring an additional 2,246 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Biogen by 21.4% in the 4th quarter. Baird Financial Group Inc. now owns 74,540 shares of the biotechnology company’s stock valued at $18,251,000 after buying an additional 13,159 shares during the period. NuWave Investment Management LLC grew its holdings in shares of Biogen by 568.7% in the 4th quarter. NuWave Investment Management LLC now owns 1,966 shares of the biotechnology company’s stock valued at $481,000 after buying an additional 1,672 shares during the period. IFP Advisors Inc grew its holdings in shares of Biogen by 16.1% in the 4th quarter. IFP Advisors Inc now owns 7,832 shares of the biotechnology company’s stock valued at $1,900,000 after buying an additional 1,085 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of Biogen by 6.7% in the 4th quarter. Toronto Dominion Bank now owns 103,987 shares of the biotechnology company’s stock valued at $25,462,000 after buying an additional 6,506 shares during the period. Institutional investors own 83.51% of the company’s stock.
Shares of Biogen stock traded down $0.70 during trading on Thursday, reaching $267.32. 7,020 shares of the company’s stock were exchanged, compared to its average volume of 1,290,902. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.06. Biogen Inc. has a 1-year low of $223.25 and a 1-year high of $363.92. The company has a market cap of $40.72 billion, a P/E ratio of 8.87, a PEG ratio of 1.04 and a beta of 0.53. The firm’s 50-day moving average price is $272.25 and its 200 day moving average price is $265.64.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 2nd. The biotechnology company reported $4.58 EPS for the quarter, missing analysts’ consensus estimates of $4.87 by ($0.29). Biogen had a return on equity of 51.00% and a net margin of 35.63%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm posted $8.34 EPS. Biogen’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, equities research analysts predict that Biogen Inc. will post 33.63 EPS for the current year.
A number of equities analysts recently weighed in on the stock. DZ Bank lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $264.00 target price for the company. in a research note on Friday, February 5th. HC Wainwright increased their price objective on shares of Biogen from $289.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Piper Sandler reduced their price objective on shares of Biogen from $265.00 to $250.00 and set a “neutral” rating for the company in a research note on Wednesday, February 3rd. Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $258.00 to $358.00 in a research note on Friday, January 29th. Finally, Morgan Stanley dropped their target price on shares of Biogen from $352.00 to $351.00 and set an “overweight” rating on the stock in a report on Thursday, February 4th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Biogen currently has an average rating of “Hold” and an average price target of $303.55.
Biogen Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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