Biogen Inc. (NASDAQ:BIIB) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP raised its position in Biogen Inc. (NASDAQ:BIIB) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,321 shares of the biotechnology company’s stock after acquiring an additional 254 shares during the period. Mission Wealth Management LP’s holdings in Biogen were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BIIB. Ashton Thomas Securities LLC acquired a new stake in Biogen in the third quarter valued at approximately $33,000. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the fourth quarter worth $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the fourth quarter worth $41,000. Venturi Wealth Management LLC lifted its stake in shares of Biogen by 73.8% during the third 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 period. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Biogen by 63.8% during the third 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 period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

NASDAQ BIIB opened at $143.77 on Thursday. The company has a 50 day simple moving average of $144.05 and a 200-day simple moving average of $167.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on BIIB. Piper Sandler reiterated a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Royal Bank of Canada reduced their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group reduced their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $213.33.

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.