Avidian Wealth Solutions LLC Has $359,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Avidian Wealth Solutions LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,387 shares of the biotechnology company’s stock after buying an additional 75 shares during the period. Avidian Wealth Solutions LLC’s holdings in Biogen were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Biogen during the third quarter worth approximately $26,000. Gladius Capital Management LP acquired a new stake in Biogen during the third quarter worth approximately $28,000. KB Financial Partners LLC grew its stake in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Biogen in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIIB. Bank Of America (Bofa) cut their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Piper Sandler cut their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group cut their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.92.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock valued at $202,030 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Biogen Stock Performance

Biogen stock traded up $4.27 during mid-day trading on Monday, reaching $221.78. 734,468 shares of the company’s stock were exchanged, compared to its average volume of 1,201,939. The business’s fifty day simple moving average is $212.00 and its 200 day simple moving average is $231.62. The firm has a market capitalization of $32.29 billion, a PE ratio of 27.15, a P/E/G ratio of 2.21 and a beta of -0.01. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $3.40 earnings per share. Biogen’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Biogen Inc. will post 15.6 earnings per share for the current 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.