PAX Financial Group LLC Purchases 156 Shares of Biogen Inc. (NASDAQ:BIIB)

PAX Financial Group LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,953 shares of the biotechnology company’s stock after acquiring an additional 156 shares during the period. PAX Financial Group LLC’s holdings in Biogen were worth $421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Vanguard Group Inc. grew its position in Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after acquiring an additional 2,218,744 shares during the last quarter. Norges Bank acquired a new position in Biogen during the 4th quarter worth about $378,728,000. FIL Ltd lifted its holdings in Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after buying an additional 593,158 shares during the period. First Trust Advisors LP lifted its holdings in Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after buying an additional 571,795 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after buying an additional 474,992 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Bank of America dropped their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. UBS Group dropped their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target on shares of Biogen in a research note on Monday, April 29th. Finally, Wedbush upped their price target on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.00.

Biogen Stock Performance

NASDAQ BIIB traded down $2.34 on Tuesday, hitting $224.29. 841,537 shares of the stock traded hands, compared to its average volume of 1,125,518. The business’s fifty day moving average is $226.97 and its two-hundred day moving average is $225.04. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $280.42. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.28 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company earned $3.40 earnings per share. Biogen’s revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Biogen Inc. will post 15.61 EPS for the current fiscal year.

About Biogen

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.