Signaturefd LLC Acquires 71 Shares of Biogen Inc. (NASDAQ:BIIB)

Signaturefd LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,092 shares of the biotechnology company’s stock after purchasing an additional 71 shares during the quarter. Signaturefd LLC’s holdings in Biogen were worth $320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp increased its stake in Biogen by 14.2% during the 4th quarter. Cibc World Markets Corp now owns 26,240 shares of the biotechnology company’s stock worth $4,013,000 after acquiring an additional 3,267 shares during the period. Sovereign Investment Advisors LLC bought a new position in shares of Biogen in the fourth quarter worth $232,000. Frank Rimerman Advisors LLC acquired a new position in Biogen in the fourth quarter valued at about $510,000. Poinciana Advisors Group LLC bought a new stake in Biogen during the fourth quarter worth about $295,000. Finally, Hills Bank & Trust Co grew its stake in Biogen by 4.7% during the fourth quarter. Hills Bank & Trust Co now owns 4,570 shares of the biotechnology company’s stock worth $699,000 after buying an additional 207 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. Canaccord Genuity Group cut their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank decreased their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

Shares of BIIB opened at $140.90 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $142.16 and its two-hundred day simple moving average is $162.40. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The stock has a market capitalization of $20.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Biogen Company 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.