Howard Capital Management Inc. Buys 153 Shares of Biogen Inc. (NASDAQ:BIIB)

Howard Capital Management Inc. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,602 shares of the biotechnology company’s stock after purchasing an additional 153 shares during the quarter. Howard Capital Management Inc.’s holdings in Biogen were worth $704,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BIIB. Blue Trust Inc. raised its position in Biogen by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 294 shares during the last quarter. Private Advisor Group LLC raised its holdings 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 acquiring an additional 924 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Biogen by 1.4% in the third quarter. Assenagon Asset Management S.A. now owns 43,349 shares of the biotechnology company’s stock worth $8,403,000 after acquiring an additional 612 shares during the period. Allworth Financial LP boosted its holdings in Biogen by 12.9% in the third quarter. Allworth Financial LP now owns 1,181 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 135 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Biogen by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,705 shares of the biotechnology company’s stock valued at $8,313,000 after purchasing an additional 7,510 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB opened at $141.27 on Tuesday. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The business’s fifty day simple moving average is $144.97 and its two-hundred day simple moving average is $169.97. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BIIB shares. Citigroup dropped their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. BMO Capital Markets lowered their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Finally, Mizuho reduced their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.