219 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, Holdings Channel reports. The fund purchased 219 shares of the biotechnology company’s stock, valued at approximately $32,000.

A number of other large investors also recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the third quarter valued at approximately $33,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC acquired a new position in shares of Biogen during the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BIIB shares. Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Trading Down 4.7 %

BIIB opened at $143.66 on Wednesday. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The business has a fifty day simple moving average of $143.80 and a 200-day simple moving average of $165.37. The firm has a market cap of $21.03 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

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

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.