Wingate Wealth Advisors Inc. Takes $54,000 Position in Biogen Inc. (NASDAQ:BIIB)

Wingate Wealth Advisors Inc. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 350 shares of the biotechnology company’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Pacer Advisors Inc. lifted its stake in shares of 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 purchasing an additional 2,648,024 shares during the period. International Assets Investment Management LLC raised its stake in Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC raised its stake in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares during the period. Erste Asset Management GmbH acquired a new position in Biogen during the 3rd quarter worth approximately $55,826,000. Finally, State Street Corp raised its stake in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BIIB shares. Barclays dropped their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Wolfe Research started coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Mizuho dropped their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Wells Fargo & Company lowered their price objective on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Finally, Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $228.80.

Biogen Price Performance

NASDAQ BIIB opened at $142.54 on Tuesday. The company has a market cap of $20.77 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 52 week low of $139.71 and a 52 week high of $244.95. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $149.14 and its two-hundred day simple moving average is $175.44.

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.