Massey Quick Simon & CO. LLC lessened its stake in Biogen Inc (NASDAQ:BIIB) by 15.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 387 shares of the biotechnology company’s stock after selling 69 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in Biogen were worth $91,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. raised its stake in Biogen by 209.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 294 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 199 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Biogen by 3.6% during the first quarter. Flagship Harbor Advisors LLC now owns 2,949 shares of the biotechnology company’s stock valued at $697,000 after purchasing an additional 102 shares in the last quarter. Retirement Systems of Alabama raised its stake in Biogen by 73.4% during the first quarter. Retirement Systems of Alabama now owns 161,097 shares of the biotechnology company’s stock valued at $38,080,000 after purchasing an additional 68,201 shares in the last quarter. First Bank & Trust bought a new position in Biogen during the first quarter valued at $94,000. Finally, Landsberg Bennett & Dubbaneh LLC increased its position in Biogen by 22.9% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 1,025 shares of the biotechnology company’s stock valued at $237,000 after acquiring an additional 191 shares during the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. UBS Group cut shares of Biogen from a “buy” rating to a “neutral” rating and cut their price objective for the company from $395.00 to $242.00 in a research report on Friday, March 22nd. Cantor Fitzgerald restated a “hold” rating and issued a $250.00 price target on shares of Biogen in a report on Wednesday, March 27th. TheStreet lowered shares of Biogen from a “b-” rating to a “c+” rating in a research note on Thursday, April 4th. Atlantic Securities lowered shares of Biogen from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. lowered shares of Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 price objective for the company. in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $295.04.
BIIB stock opened at $228.72 on Wednesday. The stock has a market cap of $44.99 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.90 and a beta of 1.04. Biogen Inc has a one year low of $216.12 and a one year high of $388.67. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.72 by $0.27. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.26 earnings per share. Analysts predict that Biogen Inc will post 28.88 earnings per share for the current year.
In other news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, January 30th. The stock was acquired at an average cost of $324.86 per share, with a total value of $9,745,800.00. Following the completion of the transaction, the director now owns 10,909 shares in the company, valued at approximately $3,543,897.74. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the sale, the director now directly owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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