Lumature Wealth Partners LLC Boosts Position in Biogen Inc. (NASDAQ:BIIB)

Lumature Wealth Partners LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,632 shares of the biotechnology company’s stock after buying an additional 374 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Biogen were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital Fund Management S.A. raised its position in Biogen by 18.6% during the 4th quarter. Capital Fund Management S.A. now owns 23,743 shares of the biotechnology company’s stock worth $5,696,000 after buying an additional 3,721 shares during the last quarter. Pinebridge Investments L.P. raised its position in Biogen by 5.5% during the 4th quarter. Pinebridge Investments L.P. now owns 8,487 shares of the biotechnology company’s stock worth $2,036,000 after buying an additional 442 shares during the last quarter. Rafferty Asset Management LLC raised its position in Biogen by 54.1% during the 4th quarter. Rafferty Asset Management LLC now owns 44,960 shares of the biotechnology company’s stock worth $10,787,000 after buying an additional 15,793 shares during the last quarter. Tredje AP fonden raised its position in Biogen by 1,837.6% during the 4th quarter. Tredje AP fonden now owns 29,064 shares of the biotechnology company’s stock worth $6,973,000 after buying an additional 27,564 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Biogen by 150.2% during the 4th quarter. Panagora Asset Management Inc. now owns 170,767 shares of the biotechnology company’s stock worth $40,970,000 after buying an additional 102,527 shares during the last quarter. 83.92% of the stock is owned by institutional investors.

NASDAQ BIIB opened at $199.11 on Friday. Biogen Inc. has a 52 week low of $187.16 and a 52 week high of $468.55. The company has a quick ratio of 1.70, a current ratio of 2.01 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $207.14 and its 200-day simple moving average is $225.84. The firm has a market cap of $29.16 billion, a PE ratio of 20.38, a P/E/G ratio of 1.19 and a beta of 0.42.

Biogen (NASDAQ:BIIBGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.79). Biogen had a return on equity of 23.46% and a net margin of 13.40%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $5.34 EPS. The firm’s revenue was down 6.1% on a year-over-year basis. Research analysts expect that Biogen Inc. will post 15.43 EPS for the current year.

A number of brokerages have recently commented on BIIB. Morgan Stanley dropped their price objective on shares of Biogen from $330.00 to $283.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 12th. Royal Bank of Canada raised shares of Biogen from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $227.00 to $248.00 in a research note on Thursday, March 3rd. Canaccord Genuity Group dropped their price objective on shares of Biogen from $335.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, February 7th. Oppenheimer dropped their price objective on shares of Biogen from $240.00 to $225.00 in a research note on Wednesday, May 4th. Finally, StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Seventeen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $284.47.

About Biogen (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

Further Reading

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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