Cambridge Investment Research Advisors Inc. grew its position in Biogen Inc (NASDAQ:BIIB) by 29.6% in the fourth quarter, Holdings Channel reports. The fund owned 6,372 shares of the biotechnology company’s stock after acquiring an additional 1,454 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Biogen were worth $1,891,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kistler Tiffany Companies LLC raised its position in Biogen by 41.7% during the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 35 shares during the last quarter. Bourgeon Capital Management LLC bought a new position in Biogen during the 3rd quarter worth $30,000. Resources Management Corp CT ADV bought a new position in Biogen during the 3rd quarter worth $34,000. Peddock Capital Advisors LLC bought a new position in Biogen during the 4th quarter worth $45,000. Finally, HWG Holdings LP bought a new position in Biogen during the 4th quarter worth $47,000. Institutional investors own 86.95% of the company’s stock.
Shares of Biogen stock opened at $333.00 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $296.66 and a two-hundred day moving average price of $267.35. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $374.99. The company has a market cap of $58.18 billion, a P/E ratio of 9.94, a PEG ratio of 1.25 and a beta of 1.21.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.02 by $0.32. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business posted $6.99 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Biogen Inc will post 32.56 EPS for the current fiscal year.
Biogen announced that its Board of Directors has authorized a share buyback program on Saturday, December 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biotechnology company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Biogen news, Director Brian S. Posner sold 1,055 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the sale, the director now directly owns 6,995 shares in the company, valued at approximately $2,044,988.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.
Several research analysts recently issued reports on the company. Oppenheimer raised their target price on Biogen from to in a research report on Friday, February 7th. Jefferies Financial Group raised their target price on Biogen from $255.00 to $310.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Wells Fargo & Co raised their target price on Biogen from $286.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Sanford C. Bernstein raised Biogen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $316.69.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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