Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 37.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,965 shares of the biotechnology company’s stock after buying an additional 1,346 shares during the period. Jones Financial Companies Lllp’s holdings in Biogen were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the 3rd quarter worth approximately $33,000. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the 4th quarter worth approximately $41,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIIB has been the topic of a number of research reports. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Morgan Stanley lowered 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. Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Finally, StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

BIIB opened at $150.38 on Friday. The firm has a market cap of $22.01 billion, a PE ratio of 13.44, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $143.98 and a 200-day simple moving average of $166.46. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities analysts predict that Biogen Inc. will post 15.83 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.