Defined Wealth Management LLC Invests $211,000 in Biogen Inc. (NASDAQ:BIIB)

Defined Wealth Management LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 910 shares of the biotechnology company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. raised its stake in Biogen by 2.4% in the fourth quarter. Natixis Advisors L.P. now owns 24,166 shares of the biotechnology company’s stock worth $6,253,000 after buying an additional 565 shares in the last quarter. Spire Wealth Management boosted its position in shares of Biogen by 9.5% during the fourth quarter. Spire Wealth Management now owns 636 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 55 shares in the last quarter. Private Advisor Group LLC grew its stake in Biogen by 6.5% in the fourth quarter. Private Advisor Group LLC now owns 4,609 shares of the biotechnology company’s stock worth $1,193,000 after purchasing an additional 280 shares during the period. Apollon Wealth Management LLC raised its holdings in Biogen by 397.4% in the fourth quarter. Apollon Wealth Management LLC now owns 4,994 shares of the biotechnology company’s stock worth $1,292,000 after purchasing an additional 3,990 shares in the last quarter. Finally, National Pension Service lifted its position in Biogen by 2.2% during the fourth quarter. National Pension Service now owns 302,317 shares of the biotechnology company’s stock valued at $78,231,000 after buying an additional 6,375 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Barclays lowered their target price on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Wedbush reduced their price objective on Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.35.

Biogen Trading Down 1.5 %

BIIB stock opened at $201.80 on Friday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43. The stock has a market capitalization of $29.38 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.06 and a beta of -0.04. 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 firm’s fifty day simple moving average is $214.00 and its two-hundred day simple moving average is $216.71.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.02 EPS. As a group, analysts anticipate that Biogen Inc. will post 16.12 earnings per share for the current year.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

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.