Financial Partners Group LLC Has $347,000 Position in Biogen Inc. (NASDAQ:BIIB)

Financial Partners Group LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 28.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,788 shares of the biotechnology company’s stock after purchasing an additional 395 shares during the period. Financial Partners Group LLC’s holdings in Biogen were worth $347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. Plato Investment Management Ltd raised its holdings in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the 2nd quarter worth $33,000. EntryPoint Capital LLC acquired a new position in Biogen in the 1st quarter valued at $36,000. Versant Capital Management Inc raised its holdings in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 85 shares during the period. Finally, Blue Trust Inc. lifted its position in Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird lowered their price target on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Wedbush lowered their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Mizuho cut their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets lowered their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Royal Bank of Canada cut their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.39.

Biogen Trading Up 0.5 %

Shares of BIIB stock opened at $183.86 on Friday. The company has a market capitalization of $26.77 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.87 and a beta of -0.06. Biogen Inc. has a 12-month low of $181.31 and a 12-month high of $268.30. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $196.04 and a 200 day moving average price of $210.47.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company posted $4.02 earnings per share. Biogen’s quarterly revenue was up .4% compared to the same quarter last year. Research analysts forecast that Biogen Inc. will post 16.13 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.