Hillsdale Investment Management Inc. Invests $705,000 in Biogen Inc. (NASDAQ:BIIB)

Hillsdale Investment Management Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,610 shares of the biotechnology company’s stock, valued at approximately $705,000.

Several other large investors have also recently bought and sold shares of BIIB. Commerce Bank raised its position in Biogen by 11.4% in the third quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock worth $1,922,000 after acquiring an additional 1,014 shares in the last quarter. Advisors Asset Management Inc. raised its position in Biogen by 2.2% in the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after acquiring an additional 147 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Biogen by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after acquiring an additional 162,511 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Biogen by 2.7% in the third quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock valued at $580,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BIIB shares. Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. BMO Capital Markets lowered their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada lowered their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Canaccord Genuity Group lowered their target price on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Sanford C. Bernstein began coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Biogen stock opened at $140.90 on Monday. The stock’s 50-day moving average is $142.16 and its 200-day moving average is $161.81. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

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.