EverSource Wealth Advisors LLC Raises Stake in Biogen Inc. (NASDAQ:BIIB)

EverSource Wealth Advisors LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 662.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,448 shares of the biotechnology company’s stock after purchasing an additional 1,258 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Biogen were worth $221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. Geode Capital Management LLC increased its holdings in Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares in the last quarter. Pacer Advisors Inc. raised its position in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. Amundi lifted its stake in shares of Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, RA Capital Management L.P. boosted its position in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after buying an additional 202,317 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $139.44 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market capitalization of $20.41 billion, a PE ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The business’s fifty day moving average price is $143.09 and its two-hundred day moving average price is $164.02.

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%. On average, research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BIIB. Mizuho dropped their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. BMO Capital Markets decreased their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler reissued a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $213.33.

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.