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, Holdings Channel.com reports. The firm purchased 1,854 shares of the biotechnology company’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. OFI Invest Asset Management bought a new position in Biogen during the 3rd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of Biogen in the first quarter valued at about $27,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter worth about $28,000. Finally, KB Financial Partners LLC lifted its position in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Canaccord Genuity Group reduced their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Wedbush boosted their price objective on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Stock Down 0.3 %

Shares of Biogen stock traded down $0.68 on Tuesday, reaching $214.82. 1,225,287 shares of the company were exchanged, compared to its average volume of 1,216,119. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $212.40 and a 200 day moving average of $232.69. The company 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $3.40 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Biogen Inc. will post 15.57 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Priya Singhal sold 419 shares of the company’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 sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred 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 purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 over the last three months. 0.60% of the stock is currently owned by insiders.

Biogen 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.