C2P Capital Advisory Group LLC Invests in Biogen Inc.

C2P Capital Advisory Group LLC, operating under the name Prosperity Capital Advisors, has acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, as noted in their recent filing with the SEC. The institutional investor purchased 4,913 shares of the biotechnology company, which amounts to an investment valued at roughly $751,000.

Biogen Stock Becomes Attractive

Recent movements in investments indicate a trend among other institutional investors who have either increased or decreased their holdings in Biogen. Notably, Pacer Advisors Inc. significantly enhanced its position by an impressive 13,574.7% during the same quarter, now owning 2,667,531 shares valued at $407,919,000 after acquiring an additional 2,648,024 shares. Moreover, Van ECK Associates Corp raised its stake in Biogen by 977.9%, bringing its total to 1,066,460 shares worth $163,083,000 following a purchase of 967,523 additional shares. International Assets Investment Management LLC also augmented its holdings dramatically by 19,722.9% in the previous quarter, ending up with 358,992 shares valued at $695,870,000. Similarly, Mizuho Securities USA LLC expanded its investment by 2,715.9%, increasing their total to 316,000 shares worth $61,253,000 after buying 304,778 additional shares. Erste Asset Management GmbH joined the fray with a new stake valued at $55,826,000. Currently, institutional investors hold an overwhelming 87.93% of Biogen's stock.

Analysts Project Positive Growth

A number of equities analysts have shared their predictions regarding Biogen's future performance. Mizuho has revised their price target downward from $251.00 to $207.00 while maintaining an "outperform" rating as per a report dated November 21st. Jefferies Financial Group shifted their stance on Biogen from a "buy" rating to "hold" and reduced their price target from $250.00 to $180.00 in a report released on December 9th. Goldman Sachs reduced their price target from $281.00 to $245.00, assigning a "buy" rating in a report dated February 13th. Meanwhile, JPMorgan Chase & Co. decreased their target price from $220.00 to $210.00, giving Biogen a "neutral" rating as of November 4th. Citigroup also adjusted their target down from $160.00 to $145.00, maintaining a "neutral" stance. Currently, 17 analysts have assigned a hold rating to the stock, while 14 have issued buy ratings. MarketBeat indicates that Biogen has an average rating of "Hold" and a consensus target price of $211.85.

Current Stock Performance

As for Biogen's stock performance, shares were trading at $136.54 recently. The company has a 50-day moving average of $146.13 and a 200-day moving average of $171.71. With a debt-to-equity ratio of 0.27, a current ratio of 1.35, and a quick ratio of 0.90, the stock has shown fluctuations, reaching a low of $128.51 and a high of $238.00 over the past year. Biogen Inc. boasts a market capitalization of $19.99 billion and displays a P/E ratio of 12.20 alongside a P/E/G ratio of 1.47.

Biogen's Business Overview

Biogen Inc. is a biotechnology firm focused on discovering, developing, manufacturing, and delivering therapies for neurological and neurodegenerative diseases across various global markets including the United States, Europe, and Asia. The company's product lineup includes TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA aimed at treating multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM, designed for Alzheimer's disease; FUMADERM for plaque psoriasis; as well as several biosimilars that reference established medications.

Future Considerations

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