Moors & Cabot Inc. Raises Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Moors & Cabot Inc. grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 11.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130 shares of the biotechnology company’s stock after buying an additional 115 shares during the quarter. Moors & Cabot Inc.’s holdings in Biogen were worth $262,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after buying an additional 2,218,744 shares in the last quarter. FIL Ltd boosted its position in Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after acquiring an additional 593,158 shares during the last quarter. First Trust Advisors LP grew its stake in Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after acquiring an additional 571,795 shares in the last quarter. Van ECK Associates Corp raised its holdings in Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after acquiring an additional 316,144 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in Biogen by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biogen

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

Biogen Stock Down 1.0 %

Shares of NASDAQ:BIIB opened at $199.36 on Friday. The firm’s 50-day moving average is $207.31 and its two-hundred day moving average is $215.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43. The firm has a market capitalization of $29.03 billion, a PE 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 earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $4.02 EPS. Analysts predict that Biogen Inc. will post 16.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank cut their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company cut their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Piper Sandler lowered their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Needham & Company LLC restated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research report on Wednesday, September 4th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $275.52.

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.