Principal Securities Inc. Acquires 78 Shares of Biogen Inc. (NASDAQ:BIIB)

Principal Securities Inc. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337 shares of the biotechnology company’s stock after buying an additional 78 shares during the period. Principal Securities Inc.’s holdings in Biogen were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the 3rd quarter valued at about $33,000. Golden State Wealth Management LLC acquired a new position in Biogen during the fourth quarter valued at approximately $41,000. Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. lifted its stake in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Citigroup decreased their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley cut their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $213.33.

Biogen Price Performance

Shares of BIIB stock opened at $139.88 on Friday. The stock’s fifty day simple moving average is $144.55 and its 200 day simple moving average is $169.15. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts expect that Biogen Inc. will post 15.83 earnings per share 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.