First Foundation Advisors Boosts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

First Foundation Advisors lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,352 shares of the biotechnology company’s stock after buying an additional 2,800 shares during the period. First Foundation Advisors’ holdings in Biogen were worth $1,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in Biogen during the fourth quarter worth approximately $41,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’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 transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $113.38 on Friday. The firm’s 50 day moving average is $137.29 and its two-hundred day moving average is $154.53. The firm has a market capitalization of $16.60 billion, a P/E ratio of 10.13, a PEG ratio of 1.51 and a beta of 0.06. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley reduced their price objective on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Sandler restated a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. The Goldman Sachs Group dropped their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Finally, Canaccord Genuity Group lowered their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $213.15.

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.