Ieq Capital LLC Buys 55,514 Shares of Biogen Inc. (NASDAQ:BIIB)

Ieq Capital LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1,380.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 59,534 shares of the biotechnology company’s stock after purchasing an additional 55,514 shares during the quarter. Ieq Capital LLC’s holdings in Biogen were worth $9,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Biogen during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC grew its position in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Biogen in the 4th quarter worth approximately $41,000. Finally, Quent Capital LLC grew its position in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 0.3 %

Biogen stock opened at $137.08 on Friday. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.47 and a beta of -0.08. The stock has a fifty day simple moving average of $145.71 and a two-hundred day simple moving average of $171.46. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities analysts predict that Biogen Inc. will post 15.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIIB shares. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Wolfe Research started coverage on Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.85.

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.