Indie Asset Partners LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Indie Asset Partners LLC purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,149 shares of the biotechnology company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit X LLC bought a new position in Biogen in the third quarter worth approximately $57,000. Signet Investment Advisory Group Inc. bought a new position in Biogen in the fourth quarter worth approximately $26,000. Jeppson Wealth Management LLC bought a new position in Biogen in the third quarter worth approximately $32,000. Accel Wealth Management bought a new position in Biogen in the fourth quarter worth approximately $34,000. Finally, Hudock Inc. increased its stake in shares of Biogen by 40.0% in the fourth quarter. Hudock Inc. now owns 140 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

In other news, CEO Michel Vounatsos bought 3,100 shares of the stock in a transaction dated Monday, November 30th. The stock was purchased at an average price of $241.31 per share, for a total transaction of $748,061.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on BIIB. William Blair reissued a “market perform” rating on shares of Biogen in a research note on Tuesday, December 1st. Canaccord Genuity increased their price objective on shares of Biogen from $350.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. TheStreet cut shares of Biogen from a “b” rating to a “c+” rating in a research note on Wednesday, November 11th. Royal Bank of Canada increased their price objective on shares of Biogen from $249.00 to $256.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 1st. Finally, Cantor Fitzgerald reduced their price objective on shares of Biogen from $278.00 to $268.00 and set a “neutral” rating for the company in a research note on Wednesday, February 17th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $304.47.

Shares of Biogen stock traded down $7.10 during trading on Tuesday, hitting $277.53. The stock had a trading volume of 38,889 shares, compared to its average volume of 1,354,261. The firm’s fifty day simple moving average is $270.03 and its 200-day simple moving average is $267.95. The stock has a market cap of $42.28 billion, a PE ratio of 9.42, a PEG ratio of 1.04 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.06 and a quick ratio of 1.79. Biogen Inc. has a 12 month low of $223.25 and a 12 month high of $363.92.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 2nd. The biotechnology company reported $4.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.87 by ($0.29). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.80 billion. Biogen had a return on equity of 51.00% and a net margin of 35.63%. Biogen’s revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $8.34 EPS. Analysts expect that Biogen Inc. will post 33.63 earnings per share for the current fiscal year.

About Biogen

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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