Crowley Wealth Management Inc. Makes New $944,000 Investment in Biogen Inc. (NASDAQ:BIIB)

Crowley Wealth Management Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,175 shares of the biotechnology company’s stock, valued at approximately $944,000. Biogen accounts for approximately 0.8% of Crowley Wealth Management Inc.’s portfolio, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC raised its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Biogen during the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. acquired a new position in Biogen during the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new position in Biogen in the 4th quarter worth approximately $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Down 0.3 %

Shares of Biogen stock opened at $140.90 on Friday. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The firm has a market capitalization of $20.62 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company’s fifty day moving average price is $142.16 and its two-hundred day moving average price is $162.11.

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

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BIIB shares. Wells Fargo & Company reduced their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. Sanford C. Bernstein initiated coverage on Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target on the stock. Finally, Bank Of America (Bofa) reduced their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $213.33.

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.