Gladstone Institutional Advisory LLC Purchases Shares of 961 Biogen Inc. (NASDAQ:BIIB)

Gladstone Institutional Advisory LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 961 shares of the biotechnology company’s stock, valued at approximately $249,000.

Several other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its holdings in shares of Biogen by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after buying an additional 45 shares during the last quarter. PAX Financial Group LLC lifted its holdings in Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 45 shares in the last quarter. Quent Capital LLC lifted its holdings in Biogen by 17.0% during the fourth quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 49 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its holdings in Biogen by 3.7% during the third quarter. NewEdge Wealth LLC now owns 1,402 shares of the biotechnology company’s stock valued at $360,000 after purchasing an additional 50 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BIIB shares. Barclays reduced their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 target price on shares of Biogen in a report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, Robert W. Baird lowered their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $288.46.

Biogen Price Performance

Shares of BIIB traded down $0.25 during trading hours on Friday, reaching $217.81. 770,943 shares of the company traded hands, compared to its average volume of 1,127,078. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $31.71 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.75 and a beta of -0.01. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock has a fifty day simple moving average of $212.88 and a 200 day simple moving average of $229.62.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned $3.40 EPS. As a group, research analysts predict that Biogen Inc. will post 15.61 EPS for the current fiscal year.

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.