Biogen Inc. (NASDAQ:BIIB) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in Biogen Inc. (NASDAQ:BIIB) by 662.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,448 shares of the biotechnology company’s stock after buying an additional 1,258 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Biogen were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BIIB. Grandfield & Dodd LLC increased its holdings in shares of Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Quent Capital LLC grew its position in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares during the period. Principal Securities Inc. raised its position in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after buying an additional 78 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lowered shares of 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, December 16th. Citigroup cut their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada decreased their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company cut their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Performance

NASDAQ:BIIB opened at $139.44 on Monday. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The firm has a 50 day simple moving average of $143.09 and a 200-day simple moving average of $164.02. The firm has a market cap of $20.41 billion, a PE ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS 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.