Barings LLC continued to hold its stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,136 shares of the biotechnology company’s stock at the end of the first quarter. Barings LLC’s holdings in Biogen were worth $4,138,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the first quarter valued at about $102,000. Crestwood Advisors Group LLC bought a new stake in Biogen during the first quarter worth $106,000. Winfield Associates Inc. increased 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 increased 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 $164,000. 88.38% of the stock is owned by institutional investors.
Biogen Inc. (NASDAQ BIIB) opened at 281.77 on Friday. The company’s 50-day moving average price is $283.10 and its 200-day moving average price is $274.37. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.21 earnings per share. Equities analysts expect that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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A number of analysts have recently weighed in on the stock. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target for the company in a research report on Thursday. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a research report on Wednesday. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Cowen and Company reissued a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $328.00 price target (up previously from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $328.81.
In other news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. In the last three months, insiders sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.
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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