Frank Rimerman Advisors LLC Takes $510,000 Position in Biogen Inc. (NASDAQ:BIIB)

Frank Rimerman Advisors LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,337 shares of the biotechnology company’s stock, valued at approximately $510,000.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC grew its position in 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 purchasing an additional 141 shares in the last quarter. OFI Invest Asset Management purchased a new position in Biogen during the fourth quarter valued at approximately $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new position in Biogen during the fourth quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. grew its position in Biogen by 63.8% during 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 in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIIB. Citigroup lowered their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Canaccord Genuity Group decreased their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial decreased their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $213.33.

Biogen Price Performance

NASDAQ:BIIB opened at $139.44 on Monday. The stock has a market cap of $20.41 billion, a P/E ratio of 12.46, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a fifty day moving average price of $143.09 and a 200 day moving average price of $164.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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%. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.