Hillsdale Investment Management Inc. Purchases Shares of 4,610 Biogen Inc. (NASDAQ:BIIB)

Hillsdale Investment Management Inc. acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,610 shares of the biotechnology company's stock, valued at approximately $705,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Commerce Bank grew its position in shares of Biogen by 11.4% during the third quarter. Commerce Bank now owns 9,915 shares of the biotechnology company's stock worth $1,922,000 after acquiring an additional 1,014 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Biogen by 2.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company's stock valued at $1,298,000 after purchasing an additional 147 shares during the period. Massachusetts Financial Services Co. MA grew its position in Biogen by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company's stock worth $137,856,000 after purchasing an additional 162,511 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in shares of Biogen by 2.7% during the third quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company's stock valued at $580,000 after buying an additional 80 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Biogen Price Performance

BIIB stock traded down $1.99 during trading on Tuesday, hitting $139.61. The company had a trading volume of 1,053,227 shares, compared to its average volume of 1,249,625. The company has a fifty day moving average price of $141.99 and a two-hundred day moving average price of $161.38. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a market cap of $20.44 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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 16.87%. Equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BIIB shares. Bank of America reissued a "neutral" rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective for the company. BMO Capital Markets lowered their target price on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $213.33.

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.