Kingswood Wealth Advisors LLC Acquires Shares of 1,559 Biogen Inc. (NASDAQ:BIIB)

Kingswood Wealth Advisors LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,559 shares of the biotechnology company’s stock, valued at approximately $336,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Livelsberger Financial Advisory bought a new position in shares of Biogen during the fourth quarter valued at approximately $26,000. Gladius Capital Management LP bought a new position in shares of Biogen during the third quarter valued at approximately $28,000. Hexagon Capital Partners LLC grew its holdings in shares of Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. KB Financial Partners LLC grew its holdings in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Biogen during the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. UBS Group lowered their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $317.00 target price on shares of Biogen in a report on Wednesday. HSBC increased their price objective on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Bank of America decreased their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.50.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $231.82 on Friday. The stock has a fifty day moving average of $222.22 and a 200-day moving average of $228.69. The company has a market capitalization of $33.75 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.26 and a beta of -0.02. Biogen Inc. has a one year low of $189.44 and a one year high of $287.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.40 earnings per share. As a group, equities analysts anticipate that Biogen Inc. will post 15.63 EPS for the current fiscal 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.