Marshall Financial Group LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Marshall Financial Group LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,480 shares of the biotechnology company’s stock, valued at approximately $287,000.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after buying an additional 2,163,068 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after buying an additional 117,578 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Biogen by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after buying an additional 316,144 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Biogen by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after buying an additional 81,283 shares during the period. Finally, RA Capital Management L.P. boosted its holdings in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after buying an additional 207,835 shares during the period. 87.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BIIB has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 price objective on shares of Biogen in a report on Monday, September 9th. Truist Financial reissued a “buy” rating and issued a $302.00 price target (down from $340.00) on shares of Biogen in a report on Monday, August 5th. BMO Capital Markets reduced their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada reduced their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Mizuho reduced their price target on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.39.

Biogen Trading Up 0.3 %

BIIB opened at $190.16 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $27.69 billion, a PE ratio of 23.74, a PEG ratio of 1.87 and a beta of -0.06. Biogen Inc. has a 1-year low of $181.31 and a 1-year high of $268.30. The firm has a 50-day moving average price of $197.09 and a two-hundred day moving average price of $210.88.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $4.02 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 16.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.