Wealth Enhancement Advisory Services LLC Has $2.61 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,049 shares of the biotechnology company’s stock after purchasing an additional 2,606 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Biogen were worth $2,607,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 71 shares during the period. Principal Securities Inc. grew its position in shares of Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Israel Discount Bank of New York grew its position in shares of Biogen by 6.2% in the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 82 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 92 shares during the period. Finally, Quent Capital LLC grew its position in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 93 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of analyst reports. Argus downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird reduced their target price on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group reduced their target price on shares of Biogen from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Hsbc Global Res downgraded shares of Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $188.48.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $126.08 on Friday. The firm has a 50 day moving average of $125.68 and a 200-day moving average of $135.32. The stock has a market capitalization of $18.47 billion, a PE ratio of 12.45, a PEG ratio of 1.00 and a beta of 0.14. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. Biogen’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.67 earnings per share. On average, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.