Brooklyn Investment Group Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Brooklyn Investment Group raised its position in Biogen Inc. (NASDAQ:BIIB) by 501.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 620 shares of the biotechnology company’s stock after purchasing an additional 517 shares during the quarter. Brooklyn Investment Group’s holdings in Biogen were worth $95,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BIIB. Itau Unibanco Holding S.A. acquired a new position in Biogen in the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the third quarter valued at $33,000. Venturi Wealth Management LLC lifted its stake in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Biogen during the 3rd quarter worth $74,000. Finally, TD Private Client Wealth LLC increased its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research analyst reports. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Bank of America reissued a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Oppenheimer decreased their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $230.00.

Biogen Trading Down 0.5 %

BIIB opened at $140.55 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52 week low of $140.05 and a 52 week high of $252.17. The business’s 50 day moving average is $154.27 and its two-hundred day moving average is $184.26. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company posted $4.36 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts predict that Biogen Inc. will post 16.43 EPS 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.