Norden Group LLC Has $5.92 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Norden Group LLC boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2,285.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,436 shares of the biotechnology company’s stock after buying an additional 26,286 shares during the quarter. Norden Group LLC’s holdings in Biogen were worth $5,916,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter worth $26,000. Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth $27,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter worth $28,000. KB Financial Partners LLC lifted its holdings 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 buying an additional 62 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings 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 buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price target on shares of Biogen in a research note on Friday, June 28th. UBS Group cut their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Bank of America cut their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $317.00 price target on shares of Biogen in a research note on Wednesday, June 26th. Finally, HSBC increased their price target on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.50.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $224.61 on Friday. The stock has a market capitalization of $32.70 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.26 and a beta of -0.04. The business has a 50-day moving average of $224.14 and a 200-day moving average of $228.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $287.60.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.40 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 15.63 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.