Biogen Inc. $BIIB Position Increased by Sigma Planning Corp

Sigma Planning Corp lifted its position in Biogen Inc. (NASDAQ:BIIB) by 100.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,385 shares of the biotechnology company’s stock after purchasing an additional 6,192 shares during the quarter. Sigma Planning Corp’s holdings in Biogen were worth $2,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Probity Advisors Inc. lifted its position in Biogen by 3.6% in the third quarter. Probity Advisors Inc. now owns 1,183 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 41 shares during the period. Forum Financial Management LP increased its holdings in Biogen by 2.4% in the 3rd quarter. Forum Financial Management LP now owns 1,936 shares of the biotechnology company’s stock valued at $437,000 after buying an additional 46 shares during the period. Integrated Advisors Network LLC increased its holdings in Biogen by 3.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,403 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 48 shares during the period. Wedbush Securities Inc. increased its holdings in Biogen by 5.1% in the 2nd quarter. Wedbush Securities Inc. now owns 1,164 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 56 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in shares of Biogen by 1.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock valued at $866,000 after buying an additional 57 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Trading Up 0.2%

Shares of NASDAQ:BIIB opened at $252.73 on Wednesday. The business’s fifty day moving average price is $225.10 and its two-hundred day moving average price is $200.10. Biogen Inc. has a fifty-two week low of $138.00 and a fifty-two week high of $254.41.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the business posted $5.47 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Biogen Inc. will post 12.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BIIB shares. HC Wainwright raised their price objective on shares of Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of Biogen from $250.00 to $310.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Piper Sandler reissued an “overweight” rating and issued a $245.00 target price (up from $225.00) on shares of Biogen in a research note on Thursday, September 3rd. Seaport Research Partners raised shares of Biogen to an “outperform” rating in a research report on Monday, October 12th. Finally, Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Biogen in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.89.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.