Rothschild Investment LLC Buys New Position in Biogen Inc. (NASDAQ:BIIB)

Rothschild Investment LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 257 shares of the biotechnology company’s stock, valued at approximately $60,000.

Other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in Biogen during the fourth quarter worth $26,000. Plato Investment Management Ltd boosted its stake in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Biogen in the 1st quarter valued at about $27,000. Versant Capital Management Inc increased its position in shares of Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Biogen during the first quarter worth about $36,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Up 0.1 %

Shares of Biogen stock opened at $204.95 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The firm has a 50-day moving average of $214.54 and a 200-day moving average of $216.81. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $270.50. The stock has a market cap of $29.84 billion, a PE ratio of 25.59, a PEG ratio of 2.06 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last announced 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. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business posted $4.02 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Biogen Inc. will post 16.12 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of analyst reports. Robert W. Baird decreased their price target on Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Piper Sandler lowered their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada increased their price target on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, Scotiabank cut their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $276.35.

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.