Blair William & Co. IL Boosts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Blair William & Co. IL lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,094 shares of the biotechnology company’s stock after purchasing an additional 227 shares during the period. Blair William & Co. IL’s holdings in Biogen were worth $3,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Livelsberger Financial Advisory purchased a new position in Biogen in the fourth quarter valued at about $26,000. Plato Investment Management Ltd boosted its holdings in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Biogen in the 1st quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 85 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Biogen during the first quarter valued at approximately $36,000. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Truist Financial reaffirmed a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $292.00 price target on shares of Biogen in a report on Thursday. Mizuho cut their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $285.00 target price on shares of Biogen in a research note on Wednesday, September 4th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.52.

Biogen Price Performance

NASDAQ:BIIB opened at $199.36 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The company has a 50 day moving average price of $207.31 and a 200-day moving average price of $214.98. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $269.43. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company earned $4.02 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts forecast that Biogen Inc. will post 16.12 EPS for the current 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.