3,022 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,022 shares of the biotechnology company’s stock, valued at approximately $782,000.

Other large investors have also made changes to their positions in the company. AE Wealth Management LLC raised its holdings in Biogen by 31.4% in the 3rd quarter. AE Wealth Management LLC now owns 1,666 shares of the biotechnology company’s stock valued at $428,000 after acquiring an additional 398 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Biogen by 8.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,661 shares of the biotechnology company’s stock valued at $427,000 after acquiring an additional 130 shares in the last quarter. Impact Partnership Wealth LLC raised its holdings in Biogen by 3,433.3% in the 3rd quarter. Impact Partnership Wealth LLC now owns 212 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 206 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Biogen by 28.5% during the third quarter. DAVENPORT & Co LLC now owns 1,360 shares of the biotechnology company’s stock valued at $350,000 after acquiring an additional 302 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Biogen by 5.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,894 shares of the biotechnology company’s stock valued at $759,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Oppenheimer dropped their target price on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Bank Of America (Bofa) dropped their target price on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $311.00 target price on shares of Biogen in a research report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus price target of $295.35.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company’s stock.

Biogen Stock Performance

BIIB opened at $201.99 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The business’s 50-day simple moving average is $213.18 and its 200 day simple moving average is $234.39. The firm has a market capitalization of $29.36 billion, a PE ratio of 25.31, a PEG ratio of 1.84 and a beta of -0.02. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the prior year, the company earned $4.05 EPS. As a group, sell-side analysts expect that Biogen Inc. will post 15.47 earnings per share for the current fiscal year.

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.