C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $751,000 in Biogen Inc. (NASDAQ:BIIB)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, Holdings Channel reports. The fund bought 4,913 shares of the biotechnology company’s stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Biogen in the third quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Biogen in the 4th quarter worth about $41,000. Venturi Wealth Management LLC boosted its stake in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the period. Finally, Quent Capital LLC raised its stake in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen cut their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research began coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average price target of $211.85.

Biogen Stock Down 0.0 %

BIIB opened at $136.54 on Thursday. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.47 and a beta of -0.08. The firm has a 50 day moving average price of $146.13 and a 200-day moving average price of $171.71. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities research analysts forecast that Biogen Inc. will post 15.89 earnings per share for the current year.

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.