Banco de Sabadell S.A bought a new position in Biogen Inc (NASDAQ:BIIB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,166 shares of the biotechnology company’s stock, valued at approximately $7,061,000. Biogen comprises about 0.9% of Banco de Sabadell S.A’s investment portfolio, making the stock its 25th largest position.
A number of other large investors have also recently made changes to their positions in BIIB. Wealthsource Partners LLC bought a new position in shares of Biogen in the fourth quarter worth about $217,000. Wunderlich Capital Managemnt raised its stake in Biogen by 14.2% during the 4th quarter. Wunderlich Capital Managemnt now owns 4,710 shares of the biotechnology company’s stock valued at $1,500,000 after purchasing an additional 587 shares during the period. Meitav Dash Investments Ltd. bought a new stake in Biogen during the 4th quarter valued at approximately $12,087,000. Sterling Capital Management LLC raised its stake in Biogen by 158.3% during the 4th quarter. Sterling Capital Management LLC now owns 25,388 shares of the biotechnology company’s stock valued at $8,088,000 after purchasing an additional 15,560 shares during the period. Finally, Csenge Advisory Group bought a new stake in Biogen during the 4th quarter valued at approximately $238,000. 88.93% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Alfred Sandrock sold 259 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,296 shares of company stock worth $678,993 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on the company. Mizuho set a $433.00 target price on Biogen and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein set a $318.00 target price on Biogen and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity set a $350.00 target price on Biogen and gave the company a “hold” rating in a research note on Monday. Barclays downgraded Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $395.00 to $295.00 in a research note on Thursday, April 5th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $384.00 price objective on shares of Biogen in a research note on Monday, March 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company. Biogen presently has an average rating of “Buy” and a consensus price target of $366.49.
Shares of BIIB traded up $1.45 during trading hours on Thursday, hitting $267.44. The company had a trading volume of 1,232,654 shares, compared to its average volume of 1,683,837. The firm has a market cap of $56,083.16, a price-to-earnings ratio of 12.26, a PEG ratio of 1.46 and a beta of 0.86. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. Biogen Inc has a one year low of $244.28 and a one year high of $370.57.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $5.04 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. equities research analysts forecast that Biogen Inc will post 24.86 EPS for the current year.
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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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