Guardian Investment Management Buys 100 Shares of Biogen Inc. (NASDAQ:BIIB)

Guardian Investment Management boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,165 shares of the biotechnology company’s stock after purchasing an additional 100 shares during the period. Biogen makes up 2.2% of Guardian Investment Management’s portfolio, making the stock its 16th largest position. Guardian Investment Management’s holdings in Biogen were worth $2,630,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its position in Biogen by 157.5% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 430 shares of the biotechnology company’s stock worth $111,000 after acquiring an additional 263 shares during the period. Everence Capital Management Inc. raised its position in shares of Biogen by 26.6% in the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after purchasing an additional 1,050 shares during the period. DGS Capital Management LLC raised its position in shares of Biogen by 4.2% in the fourth quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares during the period. SVB Wealth LLC raised its position in shares of Biogen by 48.0% in the fourth quarter. SVB Wealth LLC now owns 1,174 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 381 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Biogen by 29.5% in the fourth quarter. Mackenzie Financial Corp now owns 60,626 shares of the biotechnology company’s stock valued at $15,688,000 after purchasing an additional 13,796 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.7 %

Shares of Biogen stock traded down $1.30 during trading on Thursday, reaching $190.86. The company’s stock had a trading volume of 991,667 shares, compared to its average volume of 1,148,526. Biogen Inc. has a 52-week low of $189.52 and a 52-week high of $319.76. The company has a market cap of $27.74 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.86 and a beta of -0.02. The firm’s 50-day moving average is $217.16 and its two-hundred day moving average is $236.56. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.47 billion. During the same period last year, the company posted $4.05 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Activity

In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, 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. In the last 90 days, insiders sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. BMO Capital Markets lowered their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 target price on shares of Biogen in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $296.35.

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.