Nwam LLC Increases Holdings in Biogen Inc. (NASDAQ:BIIB)

Nwam LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,324 shares of the biotechnology company’s stock after buying an additional 78 shares during the period. Nwam LLC’s holdings in Biogen were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in Biogen by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after buying an additional 251,915 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares in the last quarter. Norges Bank purchased a new stake in shares of Biogen in the 4th quarter worth $378,728,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Biogen by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,424,659 shares of the biotechnology company’s stock worth $368,685,000 after purchasing an additional 43,444 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. JPMorgan Chase & Co. lowered their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Piper Sandler lowered their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $317.00 price target on shares of Biogen in a report on Wednesday, June 26th. Finally, Bank of America lowered their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Biogen Trading Up 0.5 %

Shares of NASDAQ:BIIB traded up $1.15 during trading on Friday, reaching $226.40. 851,787 shares of the company were exchanged, compared to its average volume of 980,451. The firm has a market capitalization of $32.96 billion, a PE ratio of 28.26, a P/E/G ratio of 2.27 and a beta of -0.04. The business’s fifty day simple moving average is $226.95 and its 200-day simple moving average is $225.84. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $280.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company posted $3.40 earnings per share. On average, research analysts anticipate that Biogen Inc. will post 15.61 EPS for the current year.

About Biogen

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.