Biogen Inc. (NASDAQ:BIIB) Stock Position Increased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC lifted its position in Biogen Inc. (NASDAQ:BIIB) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,583 shares of the biotechnology company’s stock after buying an additional 102 shares during the period. Nicolet Advisory Services LLC’s holdings in Biogen were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Leo Wealth LLC bought a new stake in shares of Biogen in the 4th quarter worth $2,265,000. ICICI Prudential Asset Management Co Ltd raised its position in shares of Biogen by 15.0% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after purchasing an additional 4,693 shares during the period. Dynamic Advisor Solutions LLC grew its stake in Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after purchasing an additional 285 shares in the last quarter. Everence Capital Management Inc. increased its position in Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after purchasing an additional 1,050 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Biogen by 3.4% during the 4th quarter. IFM Investors Pty Ltd now owns 34,188 shares of the biotechnology company’s stock valued at $8,847,000 after buying an additional 1,113 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research reports. Wedbush increased their price objective on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. HSBC increased their price objective on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Barclays dropped their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Biogen Stock Performance

Shares of BIIB traded up $1.15 during mid-day trading on Friday, hitting $226.40. The company’s stock had a trading volume of 851,787 shares, compared to its average volume of 980,451. Biogen Inc. has a one year low of $189.44 and a one year high of $280.42. 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 firm has a market capitalization of $32.96 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.28 and a beta of -0.04. The stock’s 50-day moving average is $226.95 and its two-hundred day moving average is $225.55.

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, beating the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business earned $3.40 earnings per share. Biogen’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.61 EPS for the current 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.