384 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by FSA Wealth Management LLC

FSA Wealth Management LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 384 shares of the biotechnology company’s stock, valued at approximately $74,000.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Principal Financial Group Inc. increased its stake in Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the period. Arlington Partners LLC raised its position in Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after buying an additional 4,902 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares during the period. Finally, National Pension Service boosted its holdings in shares of Biogen by 10.1% in the third quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after acquiring an additional 32,914 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $160.63 on Monday. The company has a market cap of $23.41 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.52 and a beta of -0.06. The firm’s 50 day moving average is $177.86 and its two-hundred day moving average is $202.76. Biogen Inc. has a fifty-two week low of $153.62 and a fifty-two week high of $268.30. 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $4.36 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective for the company. Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a report on Monday, November 18th. BMO Capital Markets decreased their price target on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Mizuho decreased their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

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.