HighPoint Advisor Group LLC Acquires Shares of 1,917 Biogen Inc. (NASDAQ:BIIB)

HighPoint Advisor Group LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,917 shares of the biotechnology company’s stock, valued at approximately $496,000.

A number of other hedge funds have also added to or reduced their stakes in BIIB. Vanguard Group Inc. grew its stake in Biogen by 18.2% in 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 in the last quarter. Norges Bank bought a new position in Biogen in the 4th quarter worth about $378,728,000. FIL Ltd grew its stake in Biogen by 936.4% in the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after acquiring an additional 593,158 shares in the last quarter. First Trust Advisors LP grew its stake in Biogen by 141.0% in the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after acquiring an additional 571,795 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Biogen by 24,726.3% in the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after acquiring an additional 474,992 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Wedbush increased their price objective on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Truist Financial reiterated a “buy” rating and set a $340.00 price objective on shares of Biogen in a research note on Thursday, May 16th. HC Wainwright reiterated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $294.00 price objective on shares of Biogen in a research note on Wednesday, May 22nd. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $286.50.

Biogen Stock Down 1.2 %

BIIB stock opened at $223.65 on Thursday. The firm has a market cap of $32.56 billion, a PE ratio of 27.92, a P/E/G ratio of 2.28 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The firm’s fifty day moving average is $217.95 and its 200 day moving average is $229.15. Biogen Inc. has a one year low of $189.44 and a one year high of $298.73.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $3.40 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, research analysts forecast that Biogen Inc. will post 15.63 EPS for the current year.

Biogen Company 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.