Nisa Investment Advisors LLC increased its stake in Biogen Inc (NASDAQ:BIIB) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,943 shares of the biotechnology company’s stock after purchasing an additional 650 shares during the period. Nisa Investment Advisors LLC’s holdings in Biogen were worth $28,335,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of BIIB. Swiss National Bank increased its position in shares of Biogen by 2.3% in the second quarter. Swiss National Bank now owns 788,899 shares of the biotechnology company’s stock worth $214,076,000 after purchasing an additional 18,000 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new position in Biogen during the second quarter valued at approximately $6,378,000. Artemis Investment Management LLP grew its position in Biogen by 10.3% during the second quarter. Artemis Investment Management LLP now owns 14,339 shares of the biotechnology company’s stock valued at $3,890,000 after acquiring an additional 1,340 shares during the last quarter. Hikari Power Ltd grew its position in Biogen by 3.3% during the second quarter. Hikari Power Ltd now owns 22,720 shares of the biotechnology company’s stock valued at $6,165,000 after acquiring an additional 720 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Biogen by 10.9% during the second quarter. Sequoia Financial Advisors LLC now owns 12,544 shares of the biotechnology company’s stock valued at $3,404,000 after acquiring an additional 1,233 shares during the last quarter. Institutional investors own 88.11% of the company’s stock.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the sale, the director now directly owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. Insiders purchased 31,560 shares of company stock valued at $10,020,858 in the last ninety days. 0.25% of the stock is currently owned by insiders.
A number of research analysts have commented on BIIB shares. Royal Bank of Canada started coverage on shares of Biogen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $319.00 price target on the stock. SunTrust Banks started coverage on shares of Biogen in a research report on Wednesday, September 20th. They set a “buy” rating and a $360.00 price target on the stock. Raymond James Financial cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and increased their price target for the company from $244.28 to $319.00 in a research report on Thursday, September 21st. Mizuho reiterated a “neutral” rating and set a $319.00 price target on shares of Biogen in a research report on Monday, October 2nd. Finally, Morgan Stanley upgraded shares of Biogen from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $311.00 to $375.00 in a research report on Thursday, October 5th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $350.13.
Biogen Inc (NASDAQ:BIIB) traded down $3.65 during trading hours on Friday, hitting $333.07. The stock had a trading volume of 1,001,900 shares, compared to its average volume of 1,217,262. The stock has a market capitalization of $70,960.00, a price-to-earnings ratio of 20.42, a PEG ratio of 1.97 and a beta of 0.73. Biogen Inc has a 52-week low of $244.28 and a 52-week high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. Biogen had a return on equity of 40.24% and a net margin of 39.84%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm posted $5.19 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts forecast that Biogen Inc will post 22 EPS for the current fiscal year.
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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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