RDA Financial Network Takes $491,000 Position in Biogen Inc. (NASDAQ:BIIB)

RDA Financial Network purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,210 shares of the biotechnology company's stock, valued at approximately $491,000.

A number of other hedge funds have also recently modified their holdings of BIIB. Itau Unibanco Holding S.A. bought a new position in shares of Biogen in the second quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new position in Biogen during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its position in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 93 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Biogen in the third quarter worth $74,000. Finally, TD Private Client Wealth LLC raised its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock valued at $75,000 after purchasing an additional 77 shares during the period. Institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.5 %

Biogen stock traded down $0.68 during midday trading on Friday, reaching $140.55. The stock had a trading volume of 1,149,845 shares, compared to its average volume of 1,295,436. 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 firm has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. Biogen Inc. has a 52-week low of $140.05 and a 52-week high of $252.17. The company has a fifty day moving average of $154.27 and a 200 day moving average of $184.85.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.36 earnings per share. On average, analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wedbush dropped their target price on shares of Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. Needham & Company LLC lowered Biogen from a "buy" rating to a "hold" rating and set a $270.00 price objective for the company. in a research note on Monday, November 18th. Royal Bank of Canada decreased their target price on Biogen from $292.00 to $269.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. UBS Group dropped their price target on Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on shares of Biogen from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and a consensus price target of $230.00.

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.