Caxton Associates LP Takes Position in Biogen Inc. (NASDAQ:BIIB)

Caxton Associates LP bought a new position in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,200 shares of the biotechnology company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after buying an additional 17,074,075 shares during the period. Vanguard Group Inc. boosted its position in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. State Street Corp raised its position in shares of Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock worth $2,619,469,000 after buying an additional 219,502 shares during the period. Alliancebernstein L.P. raised its position in shares of Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after buying an additional 294,308 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Biogen by 6.7% in the first quarter. Geode Capital Management LLC now owns 2,372,175 shares of the biotechnology company’s stock worth $647,777,000 after buying an additional 149,832 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

Biogen Inc. (NASDAQ:BIIB) opened at 281.77 on Friday. The firm’s 50-day moving average is $283.10 and its 200-day moving average is $274.37. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23. The stock has a market capitalization of $59.57 billion, a P/E 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 the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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A number of research analysts recently issued reports on BIIB shares. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Monday, May 15th. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective for the company. in a report on Tuesday, April 25th. Cowen and Company reiterated a “buy” rating and issued a $338.00 price objective on shares of Biogen in a report on Tuesday, April 25th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Eleven 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $328.81.

In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

About Biogen

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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