RDA Financial Network Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

RDA Financial Network acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,210 shares of the biotechnology company’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the period. Geode Capital Management LLC lifted its position in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after acquiring an additional 47,055 shares during the period. RA Capital Management L.P. grew its holdings in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after purchasing an additional 18,905 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective on the stock. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research report on Monday, November 18th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Wedbush cut their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, Truist Financial decreased their price target on Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $230.00.

Biogen Trading Up 0.2 %

Shares of BIIB stock opened at $141.23 on Friday. Biogen Inc. has a 1-year low of $140.05 and a 1-year high of $252.17. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.69 and a beta of -0.07. The stock has a 50-day moving average of $155.57 and a 200-day moving average of $185.80.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.36 EPS. On average, equities research analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current 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.