Coldstream Capital Management Inc. Purchases 435 Shares of Biogen Inc. (NASDAQ:BIIB)

Coldstream Capital Management Inc. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 19.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,697 shares of the biotechnology company’s stock after acquiring an additional 435 shares during the period. Coldstream Capital Management Inc.’s holdings in Biogen were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BIIB. KCM Investment Advisors LLC grew its stake in shares of Biogen by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the last quarter. TFB Advisors LLC increased its stake in shares of Biogen by 2.1% during the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 50 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Biogen by 2.0% during the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 51 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BIIB. Royal Bank of Canada boosted their price objective on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wedbush reduced their price target on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Wells Fargo & Company reduced their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Piper Sandler lowered their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.52.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

Shares of BIIB stock opened at $197.89 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $211.12 and a 200-day moving average price of $215.96. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $269.43. The firm has a market capitalization of $28.81 billion, a PE ratio of 24.71, a P/E/G ratio of 2.03 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.02 EPS. As a group, equities research analysts expect that Biogen Inc. will post 16.12 earnings per share for the current 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.