Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Manchester Capital Management LLC

Manchester Capital Management LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907 shares of the biotechnology company’s stock after acquiring an additional 74 shares during the quarter. Manchester Capital Management LLC’s holdings in Biogen were worth $196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIIB. Quent Capital LLC grew its stake in Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 49 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Biogen by 8.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 658 shares of the biotechnology company’s stock worth $170,000 after buying an additional 50 shares during the period. Massachusetts Wealth Management raised its holdings in Biogen by 1.6% in the fourth quarter. Massachusetts Wealth Management now owns 3,250 shares of the biotechnology company’s stock valued at $841,000 after acquiring an additional 50 shares in the last quarter. TFB Advisors LLC lifted its stake in Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after acquiring an additional 50 shares during the last quarter. Finally, DGS Capital Management LLC increased its position in shares of Biogen by 4.2% in the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Truist Financial reaffirmed a “buy” rating and set a $340.00 price target on shares of Biogen in a report on Thursday, May 16th. Bank of America cut their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $294.00 target price on shares of Biogen in a research note on Friday, June 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $317.00 price target on shares of Biogen in a research note on Wednesday, June 26th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.00.

Biogen Stock Performance

Shares of NASDAQ BIIB traded down $5.94 during mid-day trading on Friday, hitting $230.86. 388,702 shares of the company were exchanged, compared to its average volume of 1,126,793. The stock has a 50 day simple moving average of $226.25 and a 200-day simple moving average of $227.24. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $281.12. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The firm has a market cap of $33.61 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 2.34 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business earned $3.40 EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts forecast that Biogen Inc. will post 15.63 EPS for the current fiscal year.

Biogen Company 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.