Evoke Wealth LLC Acquires 112 Shares of Biogen Inc. (NASDAQ:BIIB)

Evoke Wealth LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,568 shares of the biotechnology company’s stock after acquiring an additional 112 shares during the quarter. Evoke Wealth LLC’s holdings in Biogen were worth $1,769,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BIIB. Pacer Advisors Inc. increased its holdings in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after buying an additional 2,648,024 shares during the period. Van ECK Associates Corp increased its holdings in Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after buying an additional 967,523 shares during the period. Amundi increased its holdings in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Erste Asset Management GmbH bought a new position in Biogen in the 3rd quarter valued at about $55,826,000. Finally, State Street Corp increased its holdings in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Mizuho decreased their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Finally, Scotiabank reduced their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Stock Down 0.3 %

Biogen stock opened at $143.09 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The firm has a 50 day moving average price of $142.70 and a two-hundred day moving average price of $163.15. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Biogen Company 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.