Farther Finance Advisors LLC Has $1.48 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Farther Finance Advisors LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,656 shares of the biotechnology company’s stock after purchasing an additional 160 shares during the period. Farther Finance Advisors LLC’s holdings in Biogen were worth $1,484,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new stake in shares of Biogen in the third quarter worth about $877,000. China Universal Asset Management Co. Ltd. lifted its holdings in Biogen by 79.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 35,863 shares of the biotechnology company’s stock worth $6,952,000 after purchasing an additional 15,902 shares during the last quarter. abrdn plc boosted its position in Biogen by 6.2% during the third quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock worth $110,123,000 after purchasing an additional 33,333 shares during the period. Asahi Life Asset Management CO. LTD. bought a new stake in Biogen during the third quarter worth approximately $349,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Biogen by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 108,721 shares of the biotechnology company’s stock valued at $21,231,000 after purchasing an additional 1,753 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $173.79 on Monday. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.73 and a beta of -0.06. The business’s fifty day moving average price is $192.71 and its two-hundred day moving average price is $209.59. Biogen Inc. has a fifty-two week low of $173.14 and a fifty-two week high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.48.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $4.36 EPS. As a group, analysts predict that Biogen Inc. will post 16.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank dropped their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $302.00 target price (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, Mizuho dropped their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.83.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.