Biogen Inc. (NASDAQ:BIIB) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 45.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,941 shares of the biotechnology company’s stock after acquiring an additional 5,620 shares during the period. Janney Montgomery Scott LLC’s holdings in Biogen were worth $2,455,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BIIB. Larson Financial Group LLC boosted its position in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in Biogen during the first quarter valued at approximately $26,000. Colonial Trust Co SC boosted its stake in shares of Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Biogen during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIIB. JPMorgan Chase & Co. cut their price target on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. HSBC downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price objective on the stock. in a report on Monday, April 28th. Wedbush reiterated a “neutral” rating and set a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Hsbc Global Res lowered shares of Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Oppenheimer set a $205.00 price target on shares of Biogen in a research report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $188.48.

Biogen Stock Up 0.8%

BIIB stock opened at $127.31 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company has a fifty day moving average of $125.37 and a 200-day moving average of $135.73. The stock has a market capitalization of $18.65 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.00 and a beta of 0.14.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.67 earnings per share. As a group, analysts expect that Biogen Inc. will post 15.83 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.