Moors & Cabot Inc. Purchases 215 Shares of Biogen Inc. (NASDAQ:BIIB)

Moors & Cabot Inc. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,335 shares of the biotechnology company’s stock after acquiring an additional 215 shares during the quarter. Moors & Cabot Inc.’s holdings in Biogen were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Amundi increased its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Biogen in the third quarter valued at $55,826,000. Finally, State Street Corp increased its holdings in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on BIIB. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the company from $250.00 to $180.00 in a report on Monday, December 9th. Wells Fargo & Company decreased their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein initiated coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Biogen Stock Down 0.4 %

BIIB stock opened at $139.44 on Monday. The stock has a market capitalization of $20.41 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The firm has a 50-day moving average price of $143.09 and a 200-day moving average price of $164.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal 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.