Wilmington Savings Fund Society FSB Makes New $150,000 Investment in Biogen Inc. (NASDAQ:BIIB)

Wilmington Savings Fund Society FSB purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 773 shares of the biotechnology company’s stock, valued at approximately $150,000.

A number of other large investors have also bought and sold shares of the stock. World Investment Advisors LLC bought a new stake in shares of Biogen in the 3rd quarter worth approximately $1,118,000. Virtu Financial LLC purchased a new stake in Biogen in the third quarter worth $4,111,000. TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares in the last quarter. Geode Capital Management LLC increased its position in Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in Biogen by 144.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 7,178 shares of the biotechnology company’s stock valued at $1,391,000 after purchasing an additional 4,238 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research reports. Barclays cut their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Bank of America reissued a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. 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 note on Monday. Finally, BMO Capital Markets decreased their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.32.

Biogen Stock Up 0.4 %

BIIB opened at $147.39 on Friday. Biogen Inc. has a twelve month low of $145.24 and a twelve month high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $168.32 and a 200-day moving average price of $196.45. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $4.36 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current year.

Biogen 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.