Golden State Wealth Management LLC Buys Shares of 265 Biogen Inc. (NASDAQ:BIIB)

Golden State Wealth Management LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 265 shares of the biotechnology company’s stock, valued at approximately $41,000.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Biogen during the third quarter worth $33,000. Venturi Wealth Management LLC grew its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the period. Versant Capital Management Inc raised its holdings in Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Biogen during the third quarter worth about $74,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 2.2 %

Shares of NASDAQ:BIIB opened at $139.39 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $148.71 and a 200-day simple moving average of $174.84. The company has a market capitalization of $20.31 billion, a PE ratio of 12.59, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen Inc. has a twelve month low of $138.72 and a twelve month high of $244.95.

Analysts Set New Price Targets

BIIB has been the topic of a number of research analyst reports. Piper Sandler downgraded shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $221.65.

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.