Denver PWM LLC Purchases 163 Shares of Biogen Inc. (NASDAQ:BIIB)

Denver PWM LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 538 shares of the biotechnology company’s stock after purchasing an additional 163 shares during the quarter. Denver PWM LLC’s holdings in Biogen were worth $82,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after acquiring an additional 967,523 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Biogen during the third quarter valued at $55,826,000. Finally, State Street Corp increased its holdings in shares of Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 2.6 %

BIIB stock opened at $140.64 on Friday. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.59 billion, a P/E ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The business’s 50-day moving average price is $145.16 and its 200-day moving average price is $170.62.

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

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Scotiabank reduced their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and reduced their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. Canaccord Genuity Group dropped their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Mizuho dropped their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Finally, Bank Of America (Bofa) dropped their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average price target of $213.33.

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.