Edgestream Partners L.P. Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Edgestream Partners L.P. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 79.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,135 shares of the biotechnology company’s stock after acquiring an additional 8,917 shares during the period. Edgestream Partners L.P.’s holdings in Biogen were worth $3,079,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Biogen during the 3rd quarter valued at approximately $33,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the fourth quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen during the fourth quarter valued at $41,000. Venturi Wealth Management LLC lifted its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $150.38 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a 50 day moving average price of $143.98 and a 200-day moving average price of $166.46. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The stock has a market capitalization of $22.01 billion, a PE ratio of 13.44, a PEG ratio of 1.51 and a beta of 0.01.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BIIB shares. Royal Bank of Canada decreased their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Mizuho lowered their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently 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.