PFG Investments LLC Invests $400,000 in Biogen Inc. (NASDAQ:BIIB)

PFG Investments LLC purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,854 shares of the biotechnology company’s stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Primecap Management Co. CA lifted its stake in Biogen by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after acquiring an additional 251,915 shares during the period. Vanguard Group Inc. increased its holdings in Biogen by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after buying an additional 2,218,744 shares during the last quarter. Wellington Management Group LLP raised its position in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after acquiring an additional 27,951 shares during the period. Northern Trust Corp boosted its stake in shares of Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after acquiring an additional 45,437 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after acquiring an additional 61,814 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 0.3 %

NASDAQ:BIIB traded down $0.68 during mid-day trading on Tuesday, hitting $214.82. 1,225,287 shares of the stock traded hands, compared to its average volume of 1,216,119. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $31.28 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.13 and a beta of -0.02. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The firm’s 50 day moving average is $212.40 and its two-hundred day moving average is $232.69.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $3.40 EPS. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post 15.57 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wedbush lifted their target price on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $294.00 target price on shares of Biogen in a research note on Wednesday, April 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Bank Of America (Bofa) dropped their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $293.88.

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.