World Investment Advisors LLC Takes $1.12 Million Position in Biogen Inc. (NASDAQ:BIIB)

World Investment Advisors LLC purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the third quarter, HoldingsChannel.com reports. The firm purchased 5,766 shares of the biotechnology company’s stock, valued at approximately $1,118,000.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Biogen by 1.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock valued at $1,419,000 after acquiring an additional 64 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Biogen by 6.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,513 shares of the biotechnology company’s stock valued at $814,000 after acquiring an additional 218 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 127 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Biogen by 10.4% in the second quarter. Raymond James & Associates now owns 185,681 shares of the biotechnology company’s stock worth $43,045,000 after purchasing an additional 17,557 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Biogen by 3.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 56,528 shares of the biotechnology company’s stock valued at $13,104,000 after buying an additional 1,820 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BIIB. Citigroup initiated coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 11th. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Fourteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.25.

Biogen Trading Down 3.4 %

Shares of Biogen stock opened at $150.03 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a twelve month low of $149.93 and a twelve month high of $268.30. The firm has a market capitalization of $21.86 billion, a PE ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08. The firm’s 50-day moving average price is $171.21 and its 200 day moving average price is $198.16.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 earnings per share. On average, sell-side analysts predict that Biogen Inc. will post 16.43 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.