Hillsdale Investment Management Inc. Acquires New Holdings in Biogen Inc. (NASDAQ:BIIB)

Hillsdale Investment Management Inc. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,610 shares of the biotechnology company’s stock, valued at approximately $705,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Trust Co. N.A. raised its holdings in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 4,025 shares during the period. Assenagon Asset Management S.A. raised its holdings in Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares during the period. Centre Asset Management LLC raised its holdings in Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after buying an additional 3,698 shares during the period. Amundi raised its holdings in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biogen

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

Biogen Stock Performance

Shares of BIIB opened at $140.90 on Monday. 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 Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The stock has a 50 day moving average price of $142.16 and a 200 day moving average price of $161.81. The company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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 return on equity of 14.98% and a net margin of 16.87%. Research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of several research reports. Royal Bank of Canada dropped their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. HC Wainwright dropped their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Scotiabank dropped their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report 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 stock. According to data from MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $213.33.

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.