Cairn Investment Group Inc. Purchases 445 Shares of Biogen Inc. (NASDAQ:BIIB)

Cairn Investment Group Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,565 shares of the biotechnology company’s stock after purchasing an additional 445 shares during the period. Biogen makes up about 2.0% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 16th largest position. Cairn Investment Group Inc.’s holdings in Biogen were worth $2,649,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. CVA Family Office LLC grew its holdings in Biogen by 50.0% during the 3rd quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 35 shares during the last quarter. Lindenwold Advisors boosted its position in shares of Biogen by 0.7% during the third quarter. Lindenwold Advisors now owns 5,376 shares of the biotechnology company’s stock valued at $1,435,000 after buying an additional 38 shares during the period. Allworth Financial LP grew its stake in shares of Biogen by 5.7% during the third quarter. Allworth Financial LP now owns 722 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 39 shares during the last quarter. Tevis Investment Management raised its holdings in shares of Biogen by 2.0% in the third quarter. Tevis Investment Management now owns 2,522 shares of the biotechnology company’s stock worth $673,000 after buying an additional 49 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in shares of Biogen by 2.6% during the 3rd quarter. Westside Investment Management Inc. now owns 2,000 shares of the biotechnology company’s stock worth $253,930,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

Biogen Stock Down 0.8 %

BIIB stock opened at $263.16 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 0.47. Biogen Inc. has a 52 week low of $187.16 and a 52 week high of $311.88. The stock has a market capitalization of $38.02 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.24 and a beta of 0.19. The firm has a 50 day moving average of $278.59 and a 200 day moving average of $269.42.

Biogen (NASDAQ:BIIB – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. Biogen had a net margin of 29.95% and a return on equity of 20.96%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company earned $3.39 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts forecast that Biogen Inc. will post 15.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on BIIB shares. Wedbush upped their price objective on Biogen from $218.00 to $247.00 and gave the company a “neutral” rating in a research report on Wednesday, November 30th. Atlantic Securities lifted their price objective on shares of Biogen from $220.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, December 1st. Royal Bank of Canada upped their target price on shares of Biogen from $335.00 to $350.00 in a research note on Monday, March 13th. Mizuho assumed coverage on shares of Biogen in a research note on Wednesday, November 30th. They set a “buy” rating and a $325.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research note on Thursday, February 16th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Biogen Company Profile

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.