Mather Group LLC. Acquires 181 Shares of Biogen Inc. (NASDAQ:BIIB)

Mather Group LLC. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,223 shares of the biotechnology company’s stock after purchasing an additional 181 shares during the period. Mather Group LLC.’s holdings in Biogen were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after acquiring an additional 2,218,744 shares during the last quarter. Norges Bank bought a new position in shares of Biogen in the 4th quarter worth about $378,728,000. FIL Ltd increased its position in Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after buying an additional 593,158 shares in the last quarter. First Trust Advisors LP grew its position in Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after purchasing an additional 571,795 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after buying an additional 316,144 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BIIB. Royal Bank of Canada lifted their price target on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $288.00 price objective on shares of Biogen in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday, May 23rd. Piper Sandler dropped their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. lowered their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $276.42.

Biogen Trading Up 0.1 %

Shares of Biogen stock traded up $0.18 during trading on Wednesday, hitting $200.31. The company’s stock had a trading volume of 226,950 shares, compared to its average volume of 1,146,301. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04. The stock has a 50-day moving average price of $224.24 and a two-hundred day moving average price of $222.12. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $278.95.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. Biogen’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.02 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.87 EPS for the current fiscal year.

About Biogen

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.