B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,249 shares of the biotechnology company’s stock, valued at approximately $2,529,000.
Other large investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC purchased a new position in shares of Biogen during the first quarter worth $102,000. Crestwood Advisors Group LLC purchased a new position in shares of Biogen during the first quarter worth $106,000. Winfield Associates Inc. raised its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the last quarter. Rational Advisors LLC raised its stake in Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock worth $162,000 after buying an additional 74 shares during the last quarter. Finally, Stelac Advisory Services LLC bought a new stake in Biogen during the first quarter worth approximately $164,000. Institutional investors and hedge funds own 88.38% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) opened at 281.77 on Friday. The stock has a 50 day moving average price of $283.10 and a 200 day moving average price of $274.37. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $304.23.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.21 earnings per share. On average, equities analysts expect that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
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A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $328.00 price objective (up previously from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a research note on Wednesday, July 26th. Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target on the stock in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $328.81.
In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock worth $3,931,380 in the last ninety days. 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).
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