Denver PWM LLC Increases Stake in Biogen Inc. (NASDAQ:BIIB)

Denver PWM LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 43.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 538 shares of the biotechnology company’s stock after acquiring an additional 163 shares during the quarter. Denver PWM LLC’s holdings in Biogen were worth $82,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Biogen by 165.2% during the third quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 294 shares during the period. Private Advisor Group LLC increased its position in shares of Biogen by 10.6% during the third quarter. Private Advisor Group LLC now owns 9,645 shares of the biotechnology company’s stock valued at $1,870,000 after buying an additional 924 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Biogen by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 43,349 shares of the biotechnology company’s stock valued at $8,403,000 after buying an additional 612 shares during the period. Legacy Capital Group California Inc. increased its position in shares of Biogen by 9.9% during the third quarter. Legacy Capital Group California Inc. now owns 1,798 shares of the biotechnology company’s stock valued at $349,000 after buying an additional 162 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Biogen by 4.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 2,176 shares of the biotechnology company’s stock valued at $422,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $140.64 on Friday. The stock has a fifty day moving average of $145.16 and a 200 day moving average of $170.62. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIIB. The Goldman Sachs Group decreased their price target on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Truist Financial decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $213.33.

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.