Kingswood Wealth Advisors LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Kingswood Wealth Advisors LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, Holdings Channel reports. The firm bought 1,559 shares of the biotechnology company’s stock, valued at approximately $336,000.

A number of other institutional investors have also recently bought and sold shares of the business. Gulf International Bank UK Ltd grew its holdings in Biogen by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,429 shares of the biotechnology company’s stock worth $2,680,000 after acquiring an additional 63 shares during the period. Wedmont Private Capital boosted its position in shares of Biogen by 22.7% during the first quarter. Wedmont Private Capital now owns 2,413 shares of the biotechnology company’s stock worth $498,000 after purchasing an additional 446 shares in the last quarter. Czech National Bank boosted its position in shares of Biogen by 0.5% during the first quarter. Czech National Bank now owns 25,494 shares of the biotechnology company’s stock worth $5,497,000 after purchasing an additional 117 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Biogen by 38.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 333 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 92 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Biogen during the first quarter worth $27,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BIIB shares. Truist Financial reissued a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Thursday, May 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $317.00 price objective on shares of Biogen in a research report on Wednesday. Bank of America cut their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $286.50.

Biogen Stock Up 1.4 %

Biogen stock opened at $231.82 on Friday. The firm has a market capitalization of $33.75 billion, a PE ratio of 28.94, a P/E/G ratio of 2.26 and a beta of -0.02. The company’s 50-day moving average is $222.22 and its 200-day moving average is $228.69. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $287.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $3.40 EPS. Biogen’s revenue for the quarter was down 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Biogen Inc. will post 15.63 earnings per share for the current year.

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.