Leo Wealth LLC Invests $2.27 Million in Biogen Inc. (NASDAQ:BIIB)

Leo Wealth LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,754 shares of the biotechnology company’s stock, valued at approximately $2,265,000.

A number of other institutional investors have also made changes to their positions in BIIB. Rafferty Asset Management LLC increased its position in shares of Biogen by 27.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 82,547 shares of the biotechnology company’s stock worth $21,215,000 after purchasing an additional 17,754 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Biogen during the third quarter worth $997,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Biogen in the third quarter valued at $6,163,000. Nordea Investment Management AB lifted its stake in Biogen by 56.1% in the third quarter. Nordea Investment Management AB now owns 217,988 shares of the biotechnology company’s stock valued at $56,363,000 after acquiring an additional 78,335 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in shares of Biogen by 18.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,714 shares of the biotechnology company’s stock valued at $441,000 after acquiring an additional 266 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 2.3 %

BIIB traded down $5.23 during trading on Monday, hitting $226.46. The company’s stock had a trading volume of 977,591 shares, compared to its average volume of 1,156,307. The firm has a market capitalization of $32.97 billion, a P/E ratio of 28.30, a PEG ratio of 2.33 and a beta of -0.02. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $298.73. The stock’s fifty day moving average price is $216.73 and its 200-day moving average price is $229.32. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last posted 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 firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 earnings per share. Analysts anticipate that Biogen Inc. will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BIIB shares. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $317.00 target price on shares of Biogen in a research note on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. Bank of America lowered their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Mizuho reduced their price objective on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $286.50.

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.