Guggenheim Capital LLC Purchases 533 Shares of Biogen Inc. (NASDAQ:BIIB)

Guggenheim Capital LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,777 shares of the biotechnology company’s stock after acquiring an additional 533 shares during the period. Guggenheim Capital LLC’s holdings in Biogen were worth $9,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Biogen in the 4th quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in Biogen during the fourth quarter worth about $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter worth about $33,000. Finally, Golden State Wealth Management LLC purchased a new position in Biogen in the fourth quarter valued at about $41,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Down 1.4 %

BIIB opened at $115.29 on Thursday. The business’s fifty day simple moving average is $135.18 and its 200 day simple moving average is $152.70. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market cap of $16.88 billion, a PE ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last announced 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%. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of several research analyst reports. BMO Capital Markets decreased their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Morgan Stanley lowered their target price on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada decreased their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Canaccord Genuity Group cut their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $213.15.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

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.