Premier Path Wealth Partners LLC Purchases 1,548 Shares of Biogen Inc. (NASDAQ:BIIB)

Premier Path Wealth Partners LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,556 shares of the biotechnology company’s stock after buying an additional 1,548 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Biogen were worth $1,155,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BIIB. Citizens Financial Group Inc. RI bought a new stake in Biogen in the second quarter worth $239,000. Moors & Cabot Inc. boosted its stake in Biogen by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company’s stock valued at $262,000 after purchasing an additional 115 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Biogen by 6.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,229 shares of the biotechnology company’s stock worth $517,000 after purchasing an additional 128 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Biogen by 27.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,261 shares of the biotechnology company’s stock worth $3,074,000 after purchasing an additional 2,855 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Biogen by 1.8% during the second quarter. Blair William & Co. IL now owns 13,094 shares of the biotechnology company’s stock valued at $3,035,000 after purchasing an additional 227 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup started coverage on Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 target price for the company. Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Bank of America reiterated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Barclays dropped their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $164.00 in a research report on Friday, December 20th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus target price of $230.00.

Biogen Price Performance

BIIB stock opened at $140.55 on Friday. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52-week low of $140.05 and a 52-week high of $252.17. The stock’s fifty day simple moving average is $154.27 and its 200-day simple moving average is $184.85.

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

Biogen Company 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.