Motley Fool Asset Management LLC Purchases 204 Shares of Biogen Inc. (NASDAQ:BIIB)

Motley Fool Asset Management LLC grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,861 shares of the biotechnology company’s stock after acquiring an additional 204 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Biogen were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Biogen in the 2nd quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in Biogen in the 3rd quarter worth $33,000. 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. Blue Trust Inc. raised its holdings in Biogen by 249.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Biogen in the 2nd quarter worth $46,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 0.0 %

Shares of NASDAQ BIIB opened at $160.92 on Thursday. 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 $23.45 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.55 and a beta of -0.08. The stock has a 50 day moving average price of $176.00 and a 200 day moving average price of $201.52. Biogen Inc. has a 52-week low of $153.62 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 16.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group decreased their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Oppenheimer decreased their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Finally, Wolfe Research began coverage on Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

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.