Valley Brook Capital Group Invests $55,000 in Biogen Inc. (NASDAQ:BIIB)


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Valley Brook Capital Group purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 225 shares of the biotechnology company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Northwest Bancshares Inc. lifted its stake in shares of Biogen by 19.9% during the 4th quarter. Northwest Bancshares Inc. now owns 13,509 shares of the biotechnology company’s stock worth $3,308,000 after purchasing an additional 2,246 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Biogen by 21.4% during the 4th quarter. Baird Financial Group Inc. now owns 74,540 shares of the biotechnology company’s stock worth $18,251,000 after purchasing an additional 13,159 shares during the last quarter. NuWave Investment Management LLC lifted its stake in shares of Biogen by 568.7% during the 4th quarter. NuWave Investment Management LLC now owns 1,966 shares of the biotechnology company’s stock worth $481,000 after purchasing an additional 1,672 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Biogen by 16.1% during the 4th quarter. IFP Advisors Inc now owns 7,832 shares of the biotechnology company’s stock worth $1,900,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Biogen by 6.7% during the 4th quarter. Toronto Dominion Bank now owns 103,987 shares of the biotechnology company’s stock worth $25,462,000 after purchasing an additional 6,506 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on BIIB. SVB Leerink lowered their price target on Biogen from $430.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 4th. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and raised their price target for the stock from $258.00 to $358.00 in a report on Friday, January 29th. HC Wainwright raised their price target on Biogen from $289.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Piper Sandler lowered their price target on Biogen from $265.00 to $250.00 and set a “neutral” rating for the company in a report on Wednesday, February 3rd. Finally, DZ Bank downgraded Biogen from a “buy” rating to a “hold” rating and set a $264.00 price target for the company. in a report on Friday, February 5th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. Biogen currently has an average rating of “Hold” and an average target price of $303.55.

Shares of BIIB opened at $268.02 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.06. Biogen Inc. has a one year low of $223.25 and a one year high of $363.92. The stock has a market capitalization of $40.83 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.04 and a beta of 0.53. The stock has a 50 day moving average price of $272.25 and a 200 day moving average price of $265.64.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 2nd. The biotechnology company reported $4.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.87 by ($0.29). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.80 billion. Biogen had a return on equity of 51.00% and a net margin of 35.63%. The business’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period last year, the firm posted $8.34 EPS. On average, analysts predict that Biogen Inc. will post 33.63 earnings per share for the current year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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