SVB Wealth LLC Acquires New Shares in Biogen Inc. (NASDAQ:BIIB)

SVB Wealth LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,087 shares of the biotechnology company’s stock, valued at approximately $319,000.

Several other large investors also recently bought and sold shares of the company. Grandfield & Dodd LLC lifted its stake in Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 62 shares in the last quarter. Quent Capital LLC lifted its position in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Principal Securities Inc. increased its position in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Finally, Huntington National Bank raised its stake in Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BIIB shares. Bank Of America (Bofa) decreased their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Scotiabank lowered their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, Morgan Stanley reduced their target price on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Price Performance

Shares of BIIB stock opened at $143.77 on Thursday. The firm has a fifty day simple moving average of $144.05 and a 200-day simple moving average of $167.25. The company has a market capitalization of $21.04 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities research analysts anticipate that Biogen Inc. will post 15.83 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.