RWA Wealth Partners LLC Acquires Shares of 3,022 Biogen Inc. (NASDAQ:BIIB)

RWA Wealth Partners LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,022 shares of the biotechnology company’s stock, valued at approximately $782,000.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Biogen during the third quarter valued at $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen during the third quarter valued at $28,000. KB Financial Partners LLC boosted its stake in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. CVA Family Office LLC purchased a new stake in shares of Biogen during the fourth quarter valued at $36,000. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 125 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 4.6 %

Shares of BIIB stock opened at $201.99 on Thursday. The stock’s fifty day moving average is $213.18 and its two-hundred day moving average is $234.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The firm has a market capitalization of $29.36 billion, a P/E ratio of 25.31, a PEG ratio of 1.84 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the previous year, the business posted $4.05 EPS. Research analysts expect that Biogen Inc. will post 15.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research reports. Oppenheimer lowered their price objective on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Wedbush lowered their price objective on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Piper Sandler lowered their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Robert W. Baird reduced their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, HC Wainwright restated a “buy” rating and set a $325.00 price objective on shares of Biogen in a report on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average price target of $295.35.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock valued at $202,030 in the last three months. 0.60% of the stock is currently owned by insiders.

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.