Rafferty Asset Management LLC Has $28.98 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Rafferty Asset Management LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 189,520 shares of the biotechnology company's stock after purchasing an additional 29,319 shares during the period. Rafferty Asset Management LLC owned approximately 0.13% of Biogen worth $28,981,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Lee Danner & Bass Inc. bought a new position in Biogen during the fourth quarter valued at about $25,000. Larson Financial Group LLC lifted its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares during the period. Colonial Trust Co SC boosted its stake in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after buying an additional 186 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in Biogen in the 4th quarter valued at $33,000. Finally, OFI Invest Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Trading Up 3.1%

BIIB traded up $3.85 during mid-day trading on Monday, reaching $129.44. The stock had a trading volume of 2,386,544 shares, compared to its average volume of 1,386,658. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market capitalization of $18.97 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.51 and a beta of 0.12. The firm's fifty day simple moving average is $125.96 and its two-hundred day simple moving average is $142.09.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on BIIB shares. Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Friday, May 2nd. BMO Capital Markets lowered their price objective on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) lowered their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Finally, Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus price target of $191.30.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Biogen 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.