1,931 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Poinciana Advisors Group LLC

Poinciana Advisors Group LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,931 shares of the biotechnology company's stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hills Bank & Trust Co raised its holdings in shares of Biogen by 4.7% in the fourth quarter. Hills Bank & Trust Co now owns 4,570 shares of the biotechnology company's stock valued at $699,000 after acquiring an additional 207 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Biogen by 517.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,320 shares of the biotechnology company's stock valued at $21,458,000 after acquiring an additional 117,576 shares in the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new position in Biogen in the fourth quarter valued at about $8,340,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in Biogen in the fourth quarter valued at about $2,860,000. Finally, Hopwood Financial Services Inc. purchased a new position in Biogen in the fourth quarter valued at about $46,000. 87.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company's stock.

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Wall Street Analyst Weigh In

BIIB has been the topic of a number of research analyst reports. HC Wainwright dropped their price target on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. William Blair restated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and issued a $135.00 target price (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their target price on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their price target on shares of Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen has a consensus rating of "Hold" and a consensus price target of $213.33.

Biogen Price Performance

BIIB traded down $1.66 on Wednesday, hitting $141.43. 1,180,420 shares of the company's stock were exchanged, compared to its average volume of 1,238,888. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.51 and a beta of 0.01. The firm has a 50-day moving average price of $142.70 and a 200-day moving average price of $163.15. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. 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 earnings results 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%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.