Tidal Investments LLC Raises Holdings in Biogen Inc. (NASDAQ:BIIB)

Tidal Investments LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 13.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,012 shares of the biotechnology company’s stock after acquiring an additional 1,082 shares during the quarter. Tidal Investments LLC’s holdings in Biogen were worth $1,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIIB. First Horizon Advisors Inc. raised its holdings in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares during the period. Grandfield & Dodd LLC grew its position in shares of Biogen by 5.2% during 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 in the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Biogen by 1.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock valued at $1,419,000 after purchasing an additional 64 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 0.1 %

Shares of NASDAQ BIIB opened at $150.64 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.83 and a beta of -0.08. The stock has a 50 day moving average price of $169.92 and a 200 day moving average price of $197.14. Biogen Inc. has a 52-week low of $148.60 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.36 earnings per share. Sell-side analysts expect that Biogen Inc. will post 16.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BIIB shares. Wolfe Research initiated coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Barclays dropped their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup initiated coverage on Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price target for the company. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday. Finally, Mizuho dropped their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.32.

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.