Plimoth Trust Co. LLC decreased its holdings in Biogen Inc (NASDAQ:BIIB) by 1.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,258 shares of the biotechnology company’s stock after selling 90 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Biogen were worth $1,716,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. BTIM Corp. increased its holdings in Biogen by 132.0% in the 4th quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock valued at $1,822,000 after buying an additional 3,445 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in Biogen by 4.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock valued at $40,691,000 after buying an additional 5,587 shares during the period. Gotham Asset Management LLC increased its holdings in Biogen by 34.3% in the 4th quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock valued at $32,028,000 after buying an additional 27,164 shares during the period. Smith Asset Management Group LP increased its holdings 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 valued at $34,872,000 after buying an additional 27,672 shares during the period. Finally, Triangle Securities Wealth Management increased its holdings in Biogen by 0.9% in the 1st quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock valued at $1,610,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 89.19% of the company’s stock.
Several brokerages recently issued reports on BIIB. Mizuho set a $427.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, January 29th. Stifel Nicolaus lifted their price target on shares of Biogen from $392.00 to $397.00 and gave the company a “buy” rating in a report on Tuesday, January 29th. Oppenheimer set a $372.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Friday, January 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a research report on Thursday, January 10th. Finally, BTIG Research assumed coverage on shares of Biogen in a research report on Wednesday, December 26th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $295.04.
Shares of Biogen stock traded down $0.79 during trading on Friday, reaching $226.39. 2,697,663 shares of the company traded hands, compared to its average volume of 2,082,970. 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 Inc has a 1-year low of $216.12 and a 1-year high of $388.67. The company has a market capitalization of $44.53 billion, a PE ratio of 8.64, a PEG ratio of 0.90 and a beta of 1.04.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company earned $5.26 EPS. Biogen’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts expect that Biogen Inc will post 28.88 EPS for the current fiscal year.
In other Biogen news, Director Robert W. Pangia sold 6,114 shares of the business’s stock in a transaction on Monday, March 18th. The shares were 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 approximately $8,115,513.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner purchased 7,000 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $328.45 per share, with a total value of $2,299,150.00. Following the purchase, the director now directly owns 10,909 shares in the company, valued at approximately $3,583,061.05. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.
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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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