Team Hewins LLC Purchases Shares of 879 Biogen Inc. (NASDAQ:BIIB)

by · The Markets Daily

Team Hewins LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 879 shares of the biotechnology company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sequoia Financial Advisors LLC raised its position in Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC raised its position in Biogen by 2.9% during the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Biogen by 2.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 45 shares during the last quarter. Quent Capital LLC raised its position in Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 49 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in Biogen by 3.7% during the 3rd quarter. NewEdge Wealth LLC now owns 1,402 shares of the biotechnology company’s stock valued at $360,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BIIB. HC Wainwright reaffirmed a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 target price on shares of Biogen in a report on Tuesday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $364.00 target price on shares of Biogen in a report on Tuesday, March 5th. Truist Financial reiterated a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. Finally, HSBC upped their target price on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $288.46.

Check Out Our Latest Research Report on Biogen

Biogen Stock Down 0.1 %

BIIB stock traded down $0.25 during midday trading on Friday, hitting $217.81. The company’s stock had a trading volume of 770,943 shares, compared to its average volume of 1,127,078. The company has a market cap of $31.71 billion, a PE ratio of 27.19, a P/E/G ratio of 1.74 and a beta of -0.01. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $212.88 and its 200-day moving average is $229.51.

Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.40 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.59 earnings per share for the current fiscal year.

About Biogen

(Free Report)

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.

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