ICICI Prudential Asset Management Co Ltd maintained its stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,696 shares of the biotechnology company’s stock at the end of the first quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Biogen were worth $464,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Johnson Financial Group Inc. increased its stake in Biogen by 5.4% in the first quarter. Johnson Financial Group Inc. now owns 4,712 shares of the biotechnology company’s stock valued at $1,289,000 after buying an additional 240 shares in the last quarter. RiverPoint Capital Management LLC increased its stake in Biogen by 12.3% in the first quarter. RiverPoint Capital Management LLC now owns 6,311 shares of the biotechnology company’s stock valued at $1,726,000 after buying an additional 693 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in Biogen during the first quarter valued at about $102,000. Winslow Capital Management LLC bought a new position in Biogen during the first quarter valued at approximately $345,143,000. Finally, Gruss & Co. Inc. boosted its position in Biogen by 23.1% in the first quarter. Gruss & Co. Inc. now owns 4,000 shares of the biotechnology company’s stock valued at $1,094,000 after buying an additional 750 shares during the last quarter. 88.38% of the stock is owned by institutional investors.
Biogen Inc. (NASDAQ BIIB) traded down 0.93% during trading on Friday, reaching $281.77. 814,072 shares of the company’s stock were exchanged. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79. The firm’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 $329.83.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company posted $5.21 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post $21.44 EPS for the current year.
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BIIB has been the subject of a number of recent research reports. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their price objective for the company from $262.00 to $270.00 in a research note on Monday, June 19th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective for the company in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a research report on Wednesday. Cowen and Company reiterated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $328.81.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly 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 is available at this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 6,330 shares in the company, valued at $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 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.
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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