Triangle Securities Wealth Management decreased its position in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,581 shares of the biotechnology company’s stock after selling 372 shares during the period. Triangle Securities Wealth Management’s holdings in Biogen were worth $715,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Biogen during the third quarter valued at $25,000. FNY Investment Advisers LLC boosted its position in Biogen by 526.7% during the third quarter. FNY Investment Advisers LLC now owns 94 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Biogen during the fourth quarter valued at $28,000. CVA Family Office LLC boosted its position in Biogen by 50.0% during the third quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 35 shares during the last quarter. Finally, Trustcore Financial Services LLC boosted its position in Biogen by 564.7% during the third quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on BIIB. Barclays boosted their price target on Biogen from $275.00 to $313.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 30th. StockNews.com began coverage on Biogen in a research report on Thursday. They issued a “strong-buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $325.00 price target on shares of Biogen in a research report on Wednesday, February 15th. Cowen boosted their price target on Biogen from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, Royal Bank of Canada boosted their price target on Biogen from $335.00 to $350.00 in a research report on Monday, March 13th. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $315.38.
Biogen Trading Down 0.8 %
Biogen (NASDAQ:BIIB – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.57. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $3.39 earnings per share. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, research analysts predict that Biogen Inc. will post 15.54 earnings per share for the current year.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.
- Get a free copy of the StockNews.com research report on Biogen (BIIB)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB – Get Rating).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.