Wedmont Private Capital Boosts Position in Biogen Inc. (NASDAQ:BIIB)

Wedmont Private Capital boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 187.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,670 shares of the biotechnology company’s stock after acquiring an additional 2,392 shares during the quarter. Wedmont Private Capital’s holdings in Biogen were worth $546,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Biogen in the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new position in Biogen during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC lifted its stake in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Biogen by 228.7% in the fourth 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 in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Biogen in the third quarter valued at about $74,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Down 1.4 %

Shares of NASDAQ BIIB opened at $141.00 on Thursday. The firm’s 50-day moving average is $156.24 and its 200-day moving average is $186.11. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1 year low of $140.87 and a 1 year high of $252.17. The firm has a market capitalization of $20.55 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $4.36 earnings per share. Equities analysts expect that Biogen Inc. will post 16.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIIB shares. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Barclays dropped their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $230.00.

Biogen Company 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.