Manchester Capital Management LLC Acquires 74 Shares of Biogen Inc. (NASDAQ:BIIB)

Manchester Capital Management LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 8.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 907 shares of the biotechnology company’s stock after acquiring an additional 74 shares during the period. Manchester Capital Management LLC’s holdings in Biogen were worth $196,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Leo Wealth LLC bought a new position in Biogen during the fourth quarter worth about $2,265,000. ICICI Prudential Asset Management Co Ltd raised its holdings in Biogen by 15.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after purchasing an additional 4,693 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 285 shares during the period. Public Sector Pension Investment Board raised its stake in Biogen by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 15,550 shares of the biotechnology company’s stock worth $3,997,000 after buying an additional 1,690 shares during the period. Finally, Everence Capital Management Inc. lifted its holdings in Biogen by 26.6% during the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after acquiring an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock traded down $5.94 during mid-day trading on Friday, hitting $230.86. 388,702 shares of the company were exchanged, compared to its average volume of 1,126,793. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $281.12. The business has a 50 day simple moving average of $226.25 and a 200-day simple moving average of $227.24. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $33.61 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.34 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.40 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and set a $340.00 price objective on shares of Biogen in a report on Thursday, May 16th. Barclays reduced their price target on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. HC Wainwright restated a “buy” rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 target price on shares of Biogen in a research note on Friday, June 28th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $286.00.

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.