Bleakley Financial Group LLC Purchases 270 Shares of Biogen Inc. (NASDAQ:BIIB)

Bleakley Financial Group LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,291 shares of the biotechnology company’s stock after purchasing an additional 270 shares during the quarter. Bleakley Financial Group LLC’s holdings in Biogen were worth $593,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Biogen by 15.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after acquiring an additional 4,693 shares during the period. Boone Capital Management LLC lifted its position in shares of Biogen by 52.9% during the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after acquiring an additional 33,238 shares during the period. iA Global Asset Management Inc. lifted its position in shares of Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after acquiring an additional 3,145 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Biogen by 13.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after acquiring an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Biogen by 6.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 285 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIIB. Wedbush boosted their target price on shares of Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Oppenheimer lowered their price objective on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Robert W. Baird lowered their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $364.00 price objective on shares of Biogen in a report on Tuesday, March 5th. Finally, BTIG Research restated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $298.96.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $198.18 on Friday. The company has a 50-day moving average price of $220.04 and a two-hundred day moving average price of $237.88. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen Inc. has a twelve month low of $197.78 and a twelve month high of $319.76. The firm has a market capitalization of $28.81 billion, a PE ratio of 24.83, a P/E/G ratio of 1.70 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the business posted $4.05 earnings per share. Equities analysts forecast that Biogen Inc. will post 15.45 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by company insiders.

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.