Proficio Capital Partners LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,878 shares of the biotechnology company's stock, valued at approximately $5,028,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Trust Co. N.A. boosted its holdings in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock valued at $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its holdings in Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after acquiring an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock worth $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock valued at $32,687,000 after acquiring an additional 5,270 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on BIIB shares. Wells Fargo & Company cut their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Scotiabank dropped their target price on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target on the stock. HC Wainwright lowered their price target on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus price target of $213.33.
Check Out Our Latest Stock Analysis on BIIB
Biogen Stock Up 0.9 %
Shares of BIIB opened at $141.71 on Tuesday. The firm has a market cap of $20.74 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company's fifty day moving average is $144.28 and its two-hundred day moving average is $167.83. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating 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%. Analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.
About Biogen
(
Free Report)
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.
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