Captrust Financial Advisors Has $1.49 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Captrust Financial Advisors increased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 49.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,712 shares of the biotechnology company's stock after purchasing an additional 3,218 shares during the quarter. Captrust Financial Advisors' holdings in Biogen were worth $1,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC increased its position in Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC grew its holdings in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 72 shares during the last quarter. Principal Securities Inc. grew its holdings in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 78 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock worth $767,000 after acquiring an additional 79 shares during the last quarter. Finally, Israel Discount Bank of New York grew its holdings in Biogen by 6.2% during the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after acquiring an additional 82 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 3.1%

NASDAQ BIIB traded up $3.85 on Monday, hitting $129.44. 2,386,544 shares of the company were exchanged, compared to its average volume of 1,386,658. The company has a market cap of $18.97 billion, a PE ratio of 11.57, a PEG ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The stock has a fifty day moving average of $125.74 and a 200-day moving average of $141.78. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.67 earnings per share. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction 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. This represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BIIB. Scotiabank reduced their target price on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Robert W. Baird reduced their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Hsbc Global Res lowered shares of Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen has an average rating of "Hold" and a consensus target price of $191.30.

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.