2,523 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Allen Investment Management LLC

Allen Investment Management LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,523 shares of the biotechnology company’s stock, valued at approximately $605,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Avondale Wealth Management acquired a new stake in shares of Biogen during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $27,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $27,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $28,000. Finally, Evolution Wealth Advisors LLC raised its position in Biogen by 96.7% during the third quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 59 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

Shares of Biogen stock traded up $7.03 during trading hours on Tuesday, hitting $194.57. The company’s stock had a trading volume of 23,563 shares, compared to its average volume of 1,300,910. Biogen Inc. has a twelve month low of $187.16 and a twelve month high of $468.55. The firm has a fifty day moving average of $208.23 and a 200-day moving average of $227.34. The stock has a market cap of $28.50 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.21 and a beta of 0.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.51 and a current ratio of 2.01.

Biogen (NASDAQ:BIIBGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.79). Biogen had a net margin of 13.40% and a return on equity of 23.46%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $5.34 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Biogen Inc. will post 15.39 earnings per share for the current fiscal year.

Several brokerages recently weighed in on BIIB. Wells Fargo & Company upgraded Biogen from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $265.00 in a research report on Monday, April 18th. Canaccord Genuity Group reduced their price target on Biogen from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Royal Bank of Canada upgraded Biogen from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $227.00 to $248.00 in a research report on Thursday, March 3rd. Canaccord Genuity Group reduced their price target on Biogen from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Finally, Needham & Company LLC cut their price objective on Biogen from $290.00 to $262.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Seventeen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $284.47.

Biogen Profile (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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