Legacy Capital Group California Inc. Has $349,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Legacy Capital Group California Inc. grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 9.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,798 shares of the biotechnology company’s stock after acquiring an additional 162 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Biogen were worth $349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KCM Investment Advisors LLC increased its holdings in Biogen by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after buying an additional 48 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the last quarter. TFB Advisors LLC increased its holdings in Biogen by 2.1% during the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock worth $530,000 after buying an additional 50 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Biogen by 2.0% during the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock worth $568,000 after buying an additional 51 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Trading Down 1.2 %

BIIB opened at $181.69 on Friday. Biogen Inc. has a twelve month low of $181.24 and a twelve month high of $268.30. The company has a 50-day simple moving average of $195.69 and a 200 day simple moving average of $210.29. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $26.46 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the business posted $4.02 earnings per share. Biogen’s revenue was up .4% compared to the same quarter last year. Analysts predict that Biogen Inc. will post 16.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BIIB shares. Truist Financial restated a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a report on Monday, August 5th. Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler decreased their price objective on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $285.00 price objective on shares of Biogen in a report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.39.

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.