Gulf International Bank UK Ltd boosted its stake in Biogen Inc (NASDAQ:BIIB) by 0.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 49,394 shares of the biotechnology company’s stock after buying an additional 65 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Biogen were worth $11,675,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BTIM Corp. lifted its holdings in shares of Biogen by 132.0% during the fourth quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock valued at $1,822,000 after purchasing an additional 3,445 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Biogen by 4.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock worth $40,691,000 after purchasing an additional 5,587 shares during the period. Gotham Asset Management LLC grew its position in Biogen by 34.3% in the 4th quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock worth $32,028,000 after purchasing an additional 27,164 shares during the period. Smith Asset Management Group LP grew its position in Biogen by 31.5% in the 4th quarter. Smith Asset Management Group LP now owns 115,491 shares of the biotechnology company’s stock worth $34,872,000 after purchasing an additional 27,672 shares during the period. Finally, Triangle Securities Wealth Management grew its position in Biogen by 0.9% in the 1st quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock worth $1,610,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 89.19% of the company’s stock.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction dated Wednesday, January 30th. The shares were purchased at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the acquisition, the director now directly owns 10,909 shares in the company, valued at approximately $3,543,897.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pangia sold 6,114 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the completion of the sale, the director now owns 24,701 shares in the company, valued at $8,115,513.55. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
BIIB stock traded down $4.75 during mid-day trading on Thursday, hitting $222.43. The company had a trading volume of 43,362 shares, compared to its average volume of 2,072,873. The stock has a market cap of $44.49 billion, a P/E ratio of 8.50, a PEG ratio of 0.90 and a beta of 1.04. Biogen Inc has a 12-month low of $216.12 and a 12-month high of $388.67. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, topping the consensus estimate of $6.72 by $0.27. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $5.26 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc will post 28.88 EPS for the current fiscal year.
A number of equities research analysts have commented on BIIB shares. Mizuho set a $427.00 target price on shares of Biogen and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Stifel Nicolaus boosted their price objective on shares of Biogen from $392.00 to $397.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Oppenheimer set a $372.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Friday, January 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a research report on Thursday, January 10th. Finally, BTIG Research began coverage on shares of Biogen in a research report on Wednesday, December 26th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $295.04.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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