1,450 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Prasad Wealth Partners LLC

Prasad Wealth Partners LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,450 shares of the biotechnology company’s stock, valued at approximately $222,000.

Other institutional investors have also bought and sold shares of the company. Grandfield & Dodd LLC boosted 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 buying an additional 62 shares during the period. Quintet Private Bank Europe S.A. grew its holdings in Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 63 shares in the last quarter. Quent Capital LLC boosted its stake in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the period. Finally, Principal Securities Inc. grew its stake in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective on the stock. Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company reduced their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Trading Up 0.4 %

Shares of BIIB stock opened at $141.27 on Tuesday. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock’s fifty day moving average is $144.97 and its two-hundred day moving average is $169.97. The firm has a market capitalization of $20.68 billion, a P/E ratio of 12.62, a PEG ratio of 1.51 and a beta of -0.08.

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