Golden State Wealth Management LLC Purchases Shares of 265 Biogen Inc. (NASDAQ:BIIB)

Golden State Wealth Management LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 265 shares of the biotechnology company’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Biogen during the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC lifted its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc grew its position in Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in shares of Biogen during the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several analyst reports. Piper Sandler lowered Biogen from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. Oppenheimer dropped their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. TD Cowen dropped their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 31st. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $221.65.

Biogen Price Performance

NASDAQ:BIIB opened at $139.39 on Wednesday. Biogen Inc. has a one year low of $138.72 and a one year high of $244.95. The stock has a market cap of $20.31 billion, a PE ratio of 12.59, a P/E/G ratio of 1.65 and a beta of -0.08. 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 stock has a 50 day moving average price of $148.71 and a 200 day moving average price of $174.84.

Biogen 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.