Parsons Capital Management Inc. RI raised its position in Biogen Inc. (NASDAQ:BIIB) by 68.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,463 shares of the biotechnology company’s stock after buying an additional 595 shares during the period. Parsons Capital Management Inc. RI’s holdings in Biogen were worth $400,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the period. Janus Capital Management LLC boosted its stake in shares of Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after buying an additional 1,295,540 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Biogen during the first quarter valued at about $345,143,000. Finally, AQR Capital Management LLC boosted its stake in shares of Biogen by 54.8% in the first quarter. AQR Capital Management LLC now owns 1,040,619 shares of the biotechnology company’s stock valued at $284,526,000 after buying an additional 368,587 shares during the period. 88.38% of the stock is currently owned by institutional investors.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 281.77 on Friday. The stock has a market capitalization of $59.57 billion, a PE ratio of 18.49 and a beta of 0.79. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $304.23. The firm has a 50-day moving average price of $283.10 and a 200-day moving average price of $274.37.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the firm posted $5.21 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.
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Several analysts have recently issued reports on BIIB shares. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Mizuho decreased their price objective on Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a report on Wednesday, May 31st. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective on the stock. in a report on Tuesday, April 25th. Cowen and Company reaffirmed an “outperform” rating and set a $271.00 price objective on shares of Biogen in a report on Monday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, June 26th. 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 company. The company presently has a consensus rating of “Buy” and an average target price of $328.81.
In other Biogen news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was 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 owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock worth $3,931,380 in the last quarter. 0.32% of the stock is currently owned by insiders.
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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