Cardinal Capital Management Has $5.74 Million Position in Biogen Inc. (NASDAQ:BIIB)

Cardinal Capital Management raised its position in Biogen Inc. (NASDAQ:BIIBGet Rating) by 59.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,248 shares of the biotechnology company’s stock after acquiring an additional 10,172 shares during the quarter. Cardinal Capital Management’s holdings in Biogen were worth $5,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BIIB. Equitec Proprietary Markets LLC acquired a new stake in Biogen in the fourth quarter valued at $27,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $28,000. Pflug Koory LLC lifted its stake in shares of Biogen by 88.2% during the 1st quarter. Pflug Koory LLC now owns 160 shares of the biotechnology company’s stock worth $34,000 after buying an additional 75 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $40,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

A number of research firms have recently issued reports on BIIB. Needham & Company LLC cut their target price on shares of Biogen from $290.00 to $262.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Wedbush restated a “neutral” rating on shares of Biogen in a research note on Thursday, April 28th. Bank of America cut their target price on shares of Biogen from $230.00 to $225.00 and set a “neutral” rating for the company in a research note on Monday, March 28th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the stock from $304.00 to $223.00 in a research note on Tuesday, March 8th. Finally, SVB Leerink lowered their price target on shares of Biogen from $300.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Shares of Biogen stock traded up $0.65 during midday trading on Friday, hitting $204.59. 3,487 shares of the company traded hands, compared to its average volume of 1,257,705. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.03 and a beta of 0.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.70 and a current ratio of 2.01. The firm’s fifty day moving average price is $201.93 and its 200-day moving average price is $213.61. Biogen Inc. has a 12 month low of $187.16 and a 12 month high of $372.11.

Biogen (NASDAQ:BIIBGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.79). The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Biogen had a net margin of 13.40% and a return on equity of 23.46%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $5.34 earnings per share. Equities research analysts forecast that Biogen Inc. will post 15.38 earnings per share for the current year.

Biogen Company Profile (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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