C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 4,913 Biogen Inc. (NASDAQ:BIIB)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,913 shares of the biotechnology company’s stock, valued at approximately $751,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the 3rd quarter worth $33,000. Golden State Wealth Management LLC bought a new position in shares of Biogen in the fourth quarter worth about $41,000. Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 3.8 %

Biogen stock opened at $138.45 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.17 billion, a PE ratio of 12.51, a PEG ratio of 1.65 and a beta of -0.08. The firm’s fifty day moving average is $147.73 and its 200 day moving average is $174.05. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. As a group, sell-side analysts predict that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Citigroup lowered their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and dropped their target price for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, Canaccord Genuity Group reduced their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $211.96.

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.