C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Biogen Inc. (NASDAQ:BIIB)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,913 shares of the biotechnology company’s stock, valued at approximately $751,000.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Biogen by 4,516.7% in the third quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 1,626 shares in the last quarter. Swedbank AB raised its position in Biogen by 85.0% in the 3rd quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock valued at $35,862,000 after buying an additional 84,981 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Biogen in the 3rd quarter valued at approximately $227,000. Sumitomo Life Insurance Co. boosted its position in Biogen by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,906 shares of the biotechnology company’s stock worth $757,000 after acquiring an additional 162 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Biogen during the 3rd quarter worth approximately $388,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 3.8 %

Shares of BIIB opened at $138.45 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The firm’s 50 day moving average is $147.73 and its 200-day moving average is $174.05. The stock has a market capitalization of $20.17 billion, a PE ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Equities research analysts forecast that Biogen Inc. will post 16.42 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BIIB. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday. Sanford C. Bernstein began coverage on Biogen in a report on Tuesday. They issued a “market perform” rating and a $160.00 price objective for the company. Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Mizuho lowered their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and an average target price of $211.96.

Biogen Company 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.