Farther Finance Advisors LLC Has $1.48 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Farther Finance Advisors LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,656 shares of the biotechnology company’s stock after purchasing an additional 160 shares during the quarter. Farther Finance Advisors LLC’s holdings in Biogen were worth $1,484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIIB. Norden Group LLC raised its holdings in Biogen by 25.2% in the first quarter. Norden Group LLC now owns 1,440 shares of the biotechnology company’s stock worth $311,000 after purchasing an additional 290 shares during the period. Private Advisor Group LLC raised its stake in Biogen by 4.9% during the 1st quarter. Private Advisor Group LLC now owns 4,833 shares of the biotechnology company’s stock worth $1,042,000 after buying an additional 224 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Biogen by 15.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,408 shares of the biotechnology company’s stock worth $735,000 after acquiring an additional 465 shares in the last quarter. BNP Paribas acquired a new position in Biogen in the first quarter valued at about $151,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Biogen by 10.6% in the first quarter. Daiwa Securities Group Inc. now owns 22,651 shares of the biotechnology company’s stock worth $4,884,000 after acquiring an additional 2,172 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Trading Down 0.1 %

Shares of Biogen stock opened at $173.79 on Monday. Biogen Inc. has a 1 year low of $173.14 and a 1 year high of $268.30. The company has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.73 and a beta of -0.06. The business has a fifty day simple moving average of $192.71 and a two-hundred day simple moving average of $209.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.48.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.36 EPS. Research analysts forecast that Biogen Inc. will post 16.36 EPS for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. TD Cowen cut their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Biogen in a report on Wednesday, October 30th. Royal Bank of Canada reduced their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Truist Financial reissued a “buy” rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.83.

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.