Legacy Wealth Asset Management LLC Has $280,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Legacy Wealth Asset Management LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829 shares of the biotechnology company’s stock after selling 347 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Biogen were worth $280,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Inspire Trust Co. N.A. boosted its holdings in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the last quarter. Centre Asset Management LLC increased its position in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after buying an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after buying an additional 12,319 shares during the period. Principal Financial Group Inc. lifted its holdings in Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Arlington Partners LLC grew its stake in Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.5 %

Shares of BIIB opened at $140.55 on Friday. Biogen Inc. has a 52-week low of $140.05 and a 52-week high of $252.17. The business’s fifty day moving average is $154.27 and its 200-day moving average is $184.55. 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 firm has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $4.36 earnings per share. Biogen’s revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BIIB shares. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Robert W. Baird lifted 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. Citigroup began coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective for the company. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $230.00.

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.