Gitterman Wealth Management LLC Purchases New Shares in Biogen Inc. (NASDAQ:BIIB)

Gitterman Wealth Management LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 980 shares of the biotechnology company’s stock, valued at approximately $254,000.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP bought a new stake in Biogen in the 3rd quarter valued at $28,000. KB Financial Partners LLC boosted its stake in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. CVA Family Office LLC bought a new stake in Biogen in the 4th quarter valued at $36,000. Finally, Baker Avenue Asset Management LP boosted its stake in Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 125 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BIIB shares. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $364.00 target price on shares of Biogen in a research report on Tuesday, March 5th. BMO Capital Markets cut their target price on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Piper Sandler cut their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $293.88.

Biogen Price Performance

BIIB traded up $6.44 on Friday, reaching $208.90. The stock had a trading volume of 1,894,098 shares, compared to its average volume of 1,185,437. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The firm has a 50-day moving average of $212.55 and a 200-day moving average of $233.57. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 earnings per share. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.57 EPS for the current year.

Insider Activity

In related news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

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.