C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $751,000 in Biogen Inc. (NASDAQ:BIIB)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,913 shares of the biotechnology company's stock, valued at approximately $751,000.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Biogen by 977.9% during 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 purchasing an additional 967,523 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Biogen by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,843 shares of the biotechnology company's stock valued at $1,026,000 after purchasing an additional 183 shares during the last quarter. Quent Capital LLC increased its position in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Biogen during the 4th quarter valued at approximately $54,000. Finally, Savant Capital LLC increased its position in shares of Biogen by 11.3% during the 4th quarter. Savant Capital LLC now owns 4,179 shares of the biotechnology company's stock valued at $639,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Down 0.8 %

Shares of NASDAQ BIIB traded down $1.12 during mid-day trading on Monday, reaching $137.33. 1,690,446 shares of the company were exchanged, compared to its average volume of 1,234,164. 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 stock has a market cap of $20.01 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm has a 50-day moving average of $146.90 and a 200 day moving average of $172.71.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, research analysts expect that Biogen Inc. will post 16.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIIB shares. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Thursday. Sanford C. Bernstein assumed coverage on Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price on the stock. Royal Bank of Canada cut their price objective on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday. Wolfe Research assumed coverage on Biogen in a research report on Friday, November 15th. They issued a "peer perform" rating on the stock. Finally, Stifel Nicolaus downgraded Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective on the stock. in a research report on Monday, December 16th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $211.96.

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.