Catalyst Capital Advisors LLC acquired a new position in Biogen Inc (NASDAQ:BIIB) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,550 shares of the biotechnology company’s stock, valued at approximately $460,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC boosted its position in Biogen by 4.5% during the 3rd quarter. Wealthfront Advisers LLC now owns 4,656 shares of the biotechnology company’s stock worth $1,084,000 after acquiring an additional 201 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Biogen by 7.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,948 shares of the biotechnology company’s stock worth $2,781,000 after acquiring an additional 801 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Biogen by 6.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 1,149 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 73 shares during the last quarter. Advisor Partners LLC raised its stake in shares of Biogen by 20.9% during the 3rd quarter. Advisor Partners LLC now owns 6,168 shares of the biotechnology company’s stock worth $1,436,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Biogen by 9.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 90,721 shares of the biotechnology company’s stock worth $21,122,000 after purchasing an additional 7,963 shares in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.
BIIB opened at $333.00 on Friday. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $374.99. The stock’s fifty day simple moving average is $296.66 and its 200 day simple moving average is $267.35. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. The stock has a market cap of $58.18 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21.
Biogen declared that its Board of Directors has approved a share repurchase plan on Saturday, December 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Brian S. Posner sold 1,055 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total value of $308,429.25. Following the sale, the director now owns 6,995 shares in the company, valued at approximately $2,044,988.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on the company. SunTrust Banks upped their price objective on Biogen from $337.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Sanford C. Bernstein upgraded Biogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 6th. UBS Group upped their price objective on Biogen from $280.00 to $334.00 and gave the stock a “positive” rating in a research note on Tuesday, October 22nd. Finally, Oppenheimer upped their price objective on Biogen from to in a research note on Friday, February 7th. Five research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $316.69.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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