Biogen Inc. (NASDAQ:BIIB) Shares Bought by Mather Group LLC.

Mather Group LLC. lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,223 shares of the biotechnology company’s stock after acquiring an additional 181 shares during the period. Mather Group LLC.’s holdings in Biogen were worth $264,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC grew its holdings in Biogen by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after buying an additional 48 shares during the last quarter. TFB Advisors LLC raised its holdings in Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 50 shares during the period. DGS Capital Management LLC boosted its position in Biogen by 4.2% during the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 51 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 51 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIIB. Scotiabank decreased their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, May 23rd. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Barclays cut their price objective on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a report on Monday. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $276.42.

Biogen Trading Up 0.1 %

Biogen stock traded up $0.18 during mid-day trading on Wednesday, hitting $200.31. 226,950 shares of the stock were exchanged, compared to its average volume of 1,146,301. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $278.95. The firm’s fifty day simple moving average is $224.24 and its two-hundred day simple moving average is $222.12. The stock has a market capitalization of $29.16 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.09 and a beta of -0.04. The company has a quick ratio of 1.32, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.02 earnings per share. Analysts forecast that Biogen Inc. will post 15.87 EPS for the current 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.