Kestra Private Wealth Services LLC Purchases New Holdings in Biogen Inc. (NASDAQ:BIIB)

Kestra Private Wealth Services LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,262 shares of the biotechnology company’s stock, valued at approximately $1,362,000.

Other large investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its holdings in shares of Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after purchasing an additional 42 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after acquiring an additional 45 shares in the last quarter. PAX Financial Group LLC increased its stake 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 acquiring an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after acquiring an additional 45 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Biogen by 17.0% during the fourth quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 49 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 1.9 %

Shares of NASDAQ BIIB opened at $217.51 on Friday. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The business has a fifty day moving average of $212.12 and a two-hundred day moving average of $232.44. The stock has a market cap of $31.67 billion, a PE ratio of 27.15, a PEG ratio of 2.17 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted $3.40 earnings per share. As a group, equities research analysts expect that Biogen Inc. will post 15.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 price objective on shares of Biogen in a research report on Wednesday, April 24th. BTIG Research restated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Piper Sandler decreased their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $364.00 target price on shares of Biogen in a report on Tuesday, March 5th. Finally, Bank of America decreased their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average target price of $290.92.

Insiders Place Their Bets

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

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.