Biogen Inc. (NASDAQ:BIIB) Stock Position Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,841 shares of the biotechnology company’s stock after buying an additional 167 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Biogen were worth $476,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BIIB. Stratos Wealth Partners LTD. boosted its holdings in shares of Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 42 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Biogen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the period. PAX Financial Group LLC lifted its position in shares of Biogen by 2.9% in the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Biogen by 2.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after buying an additional 45 shares in the last quarter. Finally, Quent Capital LLC lifted its position in Biogen by 17.0% in the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after buying an additional 49 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of a number of analyst reports. Bank Of America (Bofa) reduced their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Wedbush raised their target price on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Barclays decreased their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $290.92.

Insider Transactions at Biogen

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Biogen Stock Up 1.9 %

Shares of BIIB opened at $217.51 on Monday. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $212.00 and a two-hundred day moving average price of $231.62. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company earned $3.40 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities analysts predict that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Biogen 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.