Caprock Group LLC Boosts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Caprock Group LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 16.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,118 shares of the biotechnology company’s stock after buying an additional 437 shares during the period. Caprock Group LLC’s holdings in Biogen were worth $604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Biogen by 5.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock worth $849,000 after purchasing an additional 188 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Biogen in the 1st quarter worth approximately $36,000. Advisors Asset Management Inc. increased its stake in shares of Biogen by 6.5% during the first quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock valued at $1,605,000 after buying an additional 451 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Biogen by 3.1% during the first quarter. Canada Pension Plan Investment Board now owns 109,159 shares of the biotechnology company’s stock valued at $23,538,000 after acquiring an additional 3,233 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Biogen by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after acquiring an additional 81,283 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.1 %

Biogen stock opened at $157.90 on Friday. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30. The business’s fifty day moving average is $181.85 and its 200 day moving average is $205.32. The stock has a market capitalization of $23.01 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.47 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $4.36 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc. will post 16.45 EPS for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research reports. Scotiabank decreased their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research report on Monday, November 18th. BMO Capital Markets decreased their target price on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $257.20.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Profile

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.