Signaturefd LLC increased its position in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 42.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,466 shares of the biotechnology company’s stock after acquiring an additional 733 shares during the quarter. Signaturefd LLC’s holdings in Biogen were worth $683,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC bought a new stake in Biogen during the third quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its position in Biogen by 526.7% during the third quarter. FNY Investment Advisers LLC now owns 94 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in Biogen during the fourth quarter valued at approximately $28,000. CVA Family Office LLC lifted its position in Biogen by 50.0% during the third 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. Finally, Trustcore Financial Services LLC lifted its position in Biogen by 564.7% during the third quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on BIIB. Morgan Stanley dropped their target price on shares of Biogen from $351.00 to $349.00 in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $325.00 target price on shares of Biogen in a research report on Thursday, March 23rd. StockNews.com began coverage on shares of Biogen in a report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Barclays lowered their price objective on shares of Biogen from $310.00 to $307.00 in a report on Wednesday. Finally, TheStreet lowered shares of Biogen from a “b” rating to a “c+” rating in a report on Wednesday, February 15th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $318.68.
Biogen Stock Up 0.7 %
Biogen (NASDAQ:BIIB – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.44 billion. Biogen had a net margin of 29.95% and a return on equity of 20.96%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.39 EPS. Research analysts anticipate that Biogen Inc. will post 15.53 EPS for the current year.
Insider Buying and Selling at Biogen
In other Biogen news, insider Priya Singhal sold 91 shares of the business’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $277.11, for a total transaction of $25,217.01. Following the transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $787,823.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company’s stock.
Biogen Profile
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.
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