RDA Financial Network Buys New Position in Biogen Inc. (NASDAQ:BIIB)

RDA Financial Network bought a new position in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,210 shares of the biotechnology company’s stock, valued at approximately $491,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares in the last quarter. Geode Capital Management LLC grew its holdings in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the period. RA Capital Management L.P. grew its holdings in Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB opened at $141.23 on Friday. Biogen Inc. has a 1 year low of $140.05 and a 1 year high of $252.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock’s fifty day moving average price is $155.57 and its two-hundred day moving average price is $185.80. The firm has a market cap of $20.58 billion, a PE ratio of 12.76, a PEG ratio of 1.69 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 earnings per share. On average, equities research analysts forecast that Biogen Inc. will post 16.43 EPS for the current year.

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a report on Monday, December 16th. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and cut their target price for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Oppenheimer decreased their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Raymond James reaffirmed a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $230.00.

About Biogen

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.