Biogen Inc. (BIIB)
Why Biogen Inc. (BIIB) is a Top Momentum Stock for the Long-Term
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Meridian Wealth Management LLC Cuts Stake in Biogen Inc. (NASDAQ:BIIB)
Meridian Wealth Management LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 79.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,179 shares of the biotechnology company’s stock after selling 4,487 shares during the period. Meridian Wealth Management LLC’s holdings in Biogen were worth $305,000 at the end of the most recent reporting period. Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Biogen during the third quarter valued at approximately $28,000. KB Financial Partners LLC increased its holdings in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 62 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. CVA Family Office LLC acquired a new stake in Biogen during the 4th quarter valued at approximately $36,000. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Biogen by 215.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 125 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors. Analyst Upgrades and Downgrades A number of research firms recently issued reports on BIIB. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. HSBC lifted their target price on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. UBS Group lowered their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Bank Of America (Bofa) dropped their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $288.46. Get Our Latest Research Report on BIIB Insiders Place Their Bets In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock. Biogen Trading Up 0.2 % NASDAQ:BIIB opened at $230.57 on Monday. 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 stock has a fifty day simple moving average of $212.93 and a 200-day simple moving average of $230.18. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a market capitalization of $33.57 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 2.34 and a beta of -0.01. Biogen (NASDAQ:BIIB – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 earnings per share. On average, equities research analysts expect that Biogen Inc. will post 15.59 earnings per share for the current fiscal year. Biogen Profile (Free Report) 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. 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Biogen and Ionis Pharma shares slide as they end development of ALS treatment
The stocks of Biogen Inc. and Ionis Pharmaceuticals Inc. were lower Thursday, after the partners said they were terminating development of a treatment for the fatal disease Amyotrophic Lateral Sclerosis, or ALS, after a disappointing trial.
