Premier Path Wealth Partners LLC Grows Position in Biogen Inc. (NASDAQ:BIIB)

Premier Path Wealth Partners LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 25.8% in the fourth quarter, Holdings Channel reports. The firm owned 7,556 shares of the biotechnology company’s stock after purchasing an additional 1,548 shares during the period. Premier Path Wealth Partners LLC’s holdings in Biogen were worth $1,155,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group grew its stake in Biogen by 501.9% during the fourth quarter. Brooklyn Investment Group now owns 620 shares of the biotechnology company’s stock worth $95,000 after buying an additional 517 shares during the period. Sax Wealth Advisors LLC purchased a new stake in Biogen during the 4th quarter worth $337,000. Merit Financial Group LLC acquired a new stake in Biogen in the 4th quarter valued at $448,000. Wedge Capital Management L L P NC raised its position in Biogen by 17.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 179,191 shares of the biotechnology company’s stock valued at $27,402,000 after purchasing an additional 26,530 shares during the period. Finally, Avanza Fonder AB acquired a new position in shares of Biogen during the fourth quarter worth about $2,376,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BIIB shares. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research note on Monday, November 18th. UBS Group lowered their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Barclays cut their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Finally, Citigroup initiated coverage on Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target on the stock. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus price target of $230.00.

Biogen Stock Down 0.5 %

NASDAQ:BIIB opened at $140.55 on Friday. The business’s fifty day moving average price is $154.27 and its 200 day moving average price is $184.85. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $140.05 and a 1-year high of $252.17.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for 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 firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.36 earnings per share. On average, sell-side analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

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.