Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,467 shares of the biotechnology company’s stock after purchasing an additional 1,934 shares during the period. Biogen accounts for 1.3% of Old North State Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Old North State Wealth Management LLC’s holdings in Biogen were worth $2,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in shares of Biogen during the 2nd quarter valued at about $1,387,000. Park Avenue Securities LLC increased its holdings in Biogen by 4.0% in the third quarter. Park Avenue Securities LLC now owns 2,630 shares of the biotechnology company’s stock worth $510,000 after buying an additional 101 shares during the last quarter. Czech National Bank increased its holdings in Biogen by 6.9% in the third quarter. Czech National Bank now owns 29,672 shares of the biotechnology company’s stock worth $5,752,000 after buying an additional 1,928 shares during the last quarter. UMB Bank n.a. increased its holdings in Biogen by 72.1% in the third quarter. UMB Bank n.a. now owns 425 shares of the biotechnology company’s stock worth $82,000 after buying an additional 178 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Biogen by 521.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock valued at $277,000 after purchasing an additional 1,200 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BIIB. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research note on Monday, December 16th. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial cut their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Sixteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Stock Performance

Biogen stock opened at $142.49 on Wednesday. The company’s 50-day moving average price is $150.47 and its 200-day moving average price is $177.77. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $246.44. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $20.76 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.66 and a beta of -0.08.

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.