Tidal Investments LLC Buys 1,082 Shares of Biogen Inc. (NASDAQ:BIIB)

Tidal Investments LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 13.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,012 shares of the biotechnology company’s stock after acquiring an additional 1,082 shares during the quarter. Tidal Investments LLC’s holdings in Biogen were worth $1,747,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Biogen in the third quarter valued at $150,000. World Investment Advisors LLC purchased a new position in shares of Biogen in the third quarter valued at $1,118,000. Virtu Financial LLC purchased a new position in shares of Biogen in the third quarter valued at $4,111,000. TD Private Client Wealth LLC grew its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after purchasing an additional 47,055 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 0.1 %

BIIB stock opened at $150.64 on Wednesday. Biogen Inc. has a fifty-two week low of $148.60 and a fifty-two week high of $268.30. The business’s 50 day moving average price is $169.92 and its two-hundred day moving average price is $197.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.36 EPS. As a group, analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BIIB shares. Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Wolfe Research started coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America restated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Wedbush cut their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $245.32.

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.