2,931 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by Merit Financial Group LLC

Merit Financial Group LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,931 shares of the biotechnology company’s stock, valued at approximately $448,000.

A number of other large investors have also recently bought and sold shares of BIIB. Grandfield & Dodd LLC boosted its holdings in shares of Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 63 shares during the period. TD Private Client Wealth LLC increased its stake 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. Huntington National Bank raised its holdings in shares of Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 79 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Biogen by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 0.6 %

BIIB opened at $143.67 on Friday. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $251.99. The company has a fifty day moving average of $152.63 and a 200-day moving average of $182.79. The stock has a market cap of $20.94 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of -0.07. 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company posted $4.36 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that Biogen Inc. will post 16.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BIIB. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Mizuho decreased their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Raymond James reissued a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Royal Bank of Canada decreased their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial lowered their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $230.00.

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.