Proficio Capital Partners LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 32,878 shares of the biotechnology company's stock, valued at approximately $5,028,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. lifted its position in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at approximately $41,000. Quent Capital LLC lifted its position in Biogen by 31.9% in the fourth 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. Finally, Principal Securities Inc. raised its holdings in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 87.93% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Scotiabank decreased their target price on 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 report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Morgan Stanley decreased their target price on Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Royal Bank of Canada decreased their target price on Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, Canaccord Genuity Group decreased their target price on Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus price target of $213.33.
View Our Latest Stock Report on BIIB
Insider Activity at Biogen
In other Biogen 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 sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.
Biogen Stock Performance
Shares of Biogen stock traded down $0.05 during trading on Thursday, hitting $141.38. 958,611 shares of the company's stock traded hands, compared to its average volume of 1,236,355. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock has a market capitalization of $20.69 billion, a P/E ratio of 12.63, a PEG ratio of 1.51 and a beta of 0.01. The business has a 50-day simple moving average of $142.51 and a 200-day simple moving average of $163.00.
Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.
Biogen Profile
(
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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