IFG Advisory LLC Has $460,000 Stake in Biogen Inc. (NASDAQ:BIIB)

IFG Advisory LLC grew its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,779 shares of the biotechnology company’s stock after purchasing an additional 93 shares during the quarter. IFG Advisory LLC’s holdings in Biogen were worth $460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. grew its position in Biogen by 16.4% during the first quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock worth $693,000 after buying an additional 464 shares in the last quarter. Cibc World Market Inc. grew its position in Biogen by 39.9% during the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock worth $3,210,000 after buying an additional 4,349 shares in the last quarter. Vanguard Group Inc. grew its position in Biogen by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after buying an additional 183,285 shares in the last quarter. Baird Financial Group Inc. grew its position in Biogen by 15.3% during the first quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock worth $18,896,000 after buying an additional 11,882 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Biogen by 10.7% during the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 573 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 789 shares of company stock valued at $182,213 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Wedbush raised their target price on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a report on Monday, February 12th. HC Wainwright reaffirmed a “buy” rating and issued a $325.00 target price on shares of Biogen in a report on Wednesday, February 14th. Raymond James raised Biogen from a “market perform” rating to an “outperform” rating and set a $283.00 target price on the stock in a report on Thursday, December 7th. Finally, StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.68.

Get Our Latest Analysis on Biogen

Biogen Stock Performance

BIIB stock opened at $215.63 on Friday. The firm has a market cap of $31.34 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.81 and a beta of -0.03. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 1-year low of $211.01 and a 1-year high of $319.76. The stock has a 50-day moving average price of $229.09 and a 200-day moving average price of $241.89.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter last year, the firm posted $4.05 EPS. As a group, equities research analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

About Biogen

(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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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