Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 49.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,608 shares of the biotechnology company’s stock after acquiring an additional 535 shares during the quarter. Bleakley Financial Group LLC’s holdings in Biogen were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in Biogen during the third quarter worth about $33,000. Venturi Wealth Management LLC raised its stake in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its stake in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the period. Versant Capital Management Inc raised its stake in shares of Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Biogen in the 3rd quarter valued at approximately $74,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 2.2 %

Biogen stock opened at $139.39 on Wednesday. Biogen Inc. has a fifty-two week low of $138.72 and a fifty-two week high of $244.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market capitalization of $20.31 billion, a P/E ratio of 12.59, a PEG ratio of 1.65 and a beta of -0.08. The stock has a 50-day simple moving average of $148.71 and a 200-day simple moving average of $174.84.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler downgraded shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Robert W. Baird boosted their price target on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $300.00 price target on shares of Biogen in a research note on Thursday, October 31st. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Finally, Citigroup reduced their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Seventeen equities research 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, the company currently has an average rating of “Hold” and a consensus target price of $221.65.

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.