NBC Securities Inc. Invests $35,000 in Biogen Inc. (NASDAQ:BIIB)

NBC Securities Inc. acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 257 shares of the biotechnology company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock worth $2,561,238,000 after acquiring an additional 70,368 shares during the period. Geode Capital Management LLC grew its holdings in Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after acquiring an additional 82,456 shares during the period. Norges Bank acquired a new position in Biogen during the fourth quarter worth $355,569,000. Invesco Ltd. grew its holdings in Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after acquiring an additional 499,074 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company’s stock worth $295,705,000 after acquiring an additional 21,170 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $130.65 on Friday. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $19.14 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 0.14. The stock’s 50 day moving average is $123.75 and its two-hundred day moving average is $137.58.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $3.67 earnings per share. Biogen’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 price objective on the stock. in a research note on Monday, April 28th. Oppenheimer set a $205.00 target price on Biogen in a research report on Friday, May 2nd. Finally, Argus downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $188.19.

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.