Focus Partners Advisor Solutions LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) during the second quarter, Holdings Channel reports. The institutional investor purchased 7,689 shares of the biotechnology company’s stock, valued at approximately $1,661,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Reflection Asset Management purchased a new position in shares of Biogen in the fourth quarter valued at $25,000. WPG Advisers LLC lifted its holdings in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares in the last quarter. First Horizon Corp bought a new position in Biogen in the 4th quarter worth about $30,000. Root Financial Partners LLC grew its holdings in Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. purchased a new position in Biogen during the 4th quarter valued at about $34,000. 87.93% of the stock is owned by institutional investors.
Biogen Stock Down 0.4%
Shares of NASDAQ BIIB opened at $209.83 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $203.76 and a 200-day moving average of $193.10. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 6.48 and a beta of 0.17. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $219.72.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on BIIB shares. Canaccord Genuity Group increased their price target on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Mizuho boosted their price objective on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. HSBC reaffirmed a “reduce” rating and set a $157.00 target price on shares of Biogen in a report on Monday, July 6th. Needham & Company LLC increased their target price on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, UBS Group raised their price target on shares of Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $227.07.
Get Our Latest Research Report on BIIB
Biogen Company Profile
Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.
The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.
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