Financial Partners Group LLC Takes Position in Biogen Inc. (NASDAQ:BIIB)

Financial Partners Group LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,048 shares of the biotechnology company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Primecap Management Co. CA lifted its position in Biogen by 1.6% during the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares during the period. Vanguard Group Inc. boosted its position in shares of Biogen by 18.2% during 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 in the last quarter. Wellington Management Group LLP increased its stake in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after acquiring an additional 27,951 shares during the last quarter. Morgan Stanley raised its position in Biogen by 4.3% during the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after purchasing an additional 61,814 shares in the last quarter. Finally, Norges Bank bought a new stake in Biogen during the fourth quarter worth $378,728,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. Bank of America reduced their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $317.00 price objective on shares of Biogen in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $294.00 target price on shares of Biogen in a research report on Friday. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.50.

Biogen Trading Up 1.4 %

Shares of Biogen stock traded up $3.10 on Friday, hitting $231.82. 2,242,754 shares of the company’s stock traded hands, compared to its average volume of 1,032,978. The company has a market capitalization of $33.75 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.33 and a beta of -0.02. Biogen Inc. has a one year low of $189.44 and a one year high of $287.60. The company has a fifty day moving average of $222.22 and a two-hundred day moving average of $228.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for 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%. Biogen’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.40 EPS. As a group, sell-side analysts expect that Biogen Inc. will post 15.63 earnings per share for the current 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.