Uncommon Cents Investing LLC Buys 795 Shares of Biogen Inc. (NASDAQ:BIIB)

Uncommon Cents Investing LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,510 shares of the biotechnology company’s stock after acquiring an additional 795 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Biogen were worth $1,167,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Boone Capital Management LLC increased its stake in Biogen by 52.9% in the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares in the last quarter. iA Global Asset Management Inc. raised its stake in Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 3,145 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after acquiring an additional 8,291 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Biogen by 6.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 285 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after acquiring an additional 45,437 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 789 shares of company stock valued at $182,213 in the last quarter. 0.60% of the stock is currently owned by insiders.

Biogen Stock Down 0.3 %

Shares of BIIB stock opened at $215.63 on Friday. Biogen Inc. has a 52-week low of $211.01 and a 52-week high of $319.76. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.81 and a beta of -0.03. The firm’s 50-day moving average is $229.71 and its 200-day moving average is $242.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned $4.05 EPS. Sell-side analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research analyst reports. Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. HC Wainwright reiterated a “buy” rating and issued a $325.00 price target on shares of Biogen in a report on Wednesday, February 14th. Needham & Company LLC dropped their price objective on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Bank Of America (Bofa) reduced their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Finally, Canaccord Genuity Group cut their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.68.

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.