2,203 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,203 shares of the biotechnology company’s stock, valued at approximately $337,000.

Several other institutional investors have also recently made changes to their positions in BIIB. State Street Corp boosted its holdings in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Biogen by 1.3% in 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 acquiring an additional 47,055 shares during the period. RA Capital Management L.P. increased its stake in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $140.55 on Friday. The stock’s 50-day moving average is $154.27 and its 200-day moving average is $184.55. The stock has a market cap of $20.48 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. Biogen Inc. has a 1-year low of $140.05 and a 1-year high of $252.17. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on BIIB. Mizuho dropped their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America reiterated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $230.00.

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.