Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Sunbelt Securities Inc.

Sunbelt Securities Inc. grew its position in Biogen Inc. (NASDAQ:BIIB) by 106.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 627 shares of the biotechnology company’s stock after buying an additional 324 shares during the quarter. Sunbelt Securities Inc.’s holdings in Biogen were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of BIIB. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter worth $26,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter worth $28,000. Hexagon Capital Partners LLC grew its stake in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. KB Financial Partners LLC grew its stake in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth $27,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 1.4 %

BIIB opened at $231.82 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $222.22 and a two-hundred day moving average price of $228.55. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $287.60. The company has a market cap of $33.75 billion, a PE ratio of 28.94, a P/E/G ratio of 2.30 and a beta of -0.02.

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, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm posted $3.40 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts anticipate that Biogen Inc. will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $317.00 price objective on shares of Biogen in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $340.00 price objective on shares of Biogen in a research report on Thursday, May 16th. UBS Group lowered their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 price objective on shares of Biogen in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus price target of $286.50.

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.