Forbes J M & Co. LLP increased its stake in Biogen Inc (NASDAQ:BIIB) by 0.0% during the fourth quarter, Holdings Channel reports. The fund owned 3,102 shares of the biotechnology company’s stock after buying an additional 1 shares during the period. Forbes J M & Co. LLP’s holdings in Biogen were worth $879,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of BIIB. Price T Rowe Associates Inc. MD raised its position in Biogen by 19.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,610,028 shares of the biotechnology company’s stock worth $2,382,167,000 after buying an additional 1,243,876 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Biogen during the third quarter worth $222,430,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Biogen during the fourth quarter worth $179,141,000. Renaissance Technologies LLC raised its position in Biogen by 196.9% in the fourth quarter. Renaissance Technologies LLC now owns 707,495 shares of the biotechnology company’s stock worth $200,631,000 after buying an additional 469,234 shares in the last quarter. Finally, Discovery Capital Management LLC CT raised its position in Biogen by 418.8% in the fourth quarter. Discovery Capital Management LLC CT now owns 504,765 shares of the biotechnology company’s stock worth $143,141,000 after buying an additional 407,465 shares in the last quarter. Institutional investors own 86.97% of the company’s stock.
Shares of Biogen Inc (NASDAQ:BIIB) opened at 274.80 on Tuesday. The firm has a 50-day moving average of $283.74 and a 200 day moving average of $293.74. The company has a market capitalization of $59.34 billion, a P/E ratio of 16.23 and a beta of 0.72. Biogen Inc has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.96 by $0.08. The firm earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.50 earnings per share. On average, analysts anticipate that Biogen Inc will post $20.94 EPS for the current year.
Your IP Address:
A number of research analysts recently weighed in on BIIB shares. Leerink Swann set a $360.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Wednesday, January 18th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $310.00 price objective on shares of Biogen in a research note on Friday, February 24th. Morgan Stanley lifted their price objective on shares of Biogen from $353.00 to $369.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $312.00 price objective on shares of Biogen in a research note on Sunday, January 8th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Biogen from $375.00 to $386.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Biogen currently has an average rating of “Buy” and a consensus price target of $327.74.
In other news, Director Robert W. Pangia sold 5,450 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $295.39, for a total value of $1,609,875.50. Following the completion of the sale, the director now directly owns 22,078 shares of the company’s stock, valued at $6,521,620.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michel Vounatsos acquired 1,333 shares of Biogen stock in a transaction dated Monday, February 27th. The stock was purchased at an average cost of $285.39 per share, with a total value of $380,424.87. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc and related companies with MarketBeat.com's FREE daily email newsletter.