Evoke Wealth LLC Purchases 112 Shares of Biogen Inc. (NASDAQ:BIIB)

Evoke Wealth LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,568 shares of the biotechnology company’s stock after purchasing an additional 112 shares during the period. Evoke Wealth LLC’s holdings in Biogen were worth $1,769,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BIIB. Empowered Funds LLC increased its stake in Biogen by 455.8% in the third quarter. Empowered Funds LLC now owns 18,908 shares of the biotechnology company’s stock valued at $3,665,000 after purchasing an additional 15,506 shares in the last quarter. Swiss National Bank increased its stake in Biogen by 0.4% in the third quarter. Swiss National Bank now owns 432,100 shares of the biotechnology company’s stock valued at $83,758,000 after purchasing an additional 1,700 shares in the last quarter. LMR Partners LLP increased its stake in Biogen by 25.7% in the third quarter. LMR Partners LLP now owns 8,121 shares of the biotechnology company’s stock valued at $1,574,000 after purchasing an additional 1,661 shares in the last quarter. Caprock Group LLC increased its stake in Biogen by 16.3% in the third quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock valued at $604,000 after purchasing an additional 437 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Biogen in the third quarter valued at approximately $1,427,000. Institutional investors 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 dated 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 transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Truist Financial reduced their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. BMO Capital Markets reduced their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Price Performance

Shares of BIIB opened at $143.09 on Wednesday. The firm has a market capitalization of $20.94 billion, a PE ratio of 12.79, a PEG ratio of 1.51 and a beta of 0.01. The company’s 50-day moving average is $142.70 and its 200-day moving average is $163.15. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. 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 issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.