Avidian Wealth Solutions LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 25.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,948 shares of the biotechnology company’s stock after acquiring an additional 392 shares during the period. Avidian Wealth Solutions LLC’s holdings in Biogen were worth $551,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of Biogen in the second quarter worth approximately $26,000. Larson Financial Group LLC bought a new position in shares of Biogen in the second quarter worth approximately $27,000. Evermay Wealth Management LLC purchased a new stake in Biogen in the second quarter worth $28,000. Viridian Ria LLC purchased a new stake in Biogen in the third quarter worth $28,000. Finally, Wagner Wealth Management LLC lifted its stake in Biogen by 2,140.0% in the second quarter. Wagner Wealth Management LLC now owns 112 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 82.61% of the company’s stock.
Shares of Biogen stock opened at $236.67 on Friday. Biogen Inc. has a one year low of $217.10 and a one year high of $468.55. The company has a market cap of $34.76 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.70. The business’s 50 day moving average price is $243.57 and its 200 day moving average price is $290.04.
Several equities analysts have commented on the company. Needham & Company LLC lowered their price objective on Biogen from $386.00 to $328.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a research note on Monday, October 18th. The Goldman Sachs Group assumed coverage on Biogen in a research note on Monday, December 6th. They set a “neutral” rating and a $271.00 price target for the company. Morgan Stanley cut their price target on Biogen from $440.00 to $363.00 and set an “overweight” rating for the company in a research note on Thursday, January 6th. Finally, cut their price target on Biogen from $423.00 to $390.00 and set a “buy” rating for the company in a research note on Friday, October 22nd. Seventeen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $323.96.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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