Ingalls & Snyder LLC boosted its stake in Biogen Inc (NASDAQ:BIIB) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,668 shares of the biotechnology company’s stock after purchasing an additional 491 shares during the quarter. Ingalls & Snyder LLC’s holdings in Biogen were worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Trust LLC purchased a new position in shares of Biogen during the 2nd quarter valued at about $114,000. Horan Capital Advisors LLC. purchased a new position in shares of Biogen during the 3rd quarter valued at about $128,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares in the last quarter. Gs Investments Inc. purchased a new position in shares of Biogen during the 2nd quarter valued at about $136,000. Finally, Patten Group Inc. raised its holdings in shares of Biogen by 4,308.7% during the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 19,906 shares in the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.
A number of equities analysts have commented on the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $321.00 price target on shares of Biogen in a research note on Tuesday, December 5th. Nomura lifted their price target on Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a research note on Saturday, December 30th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Mizuho set a $400.00 price target on Biogen and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, SunTrust Banks boosted their target price on Biogen to $392.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Eight research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Biogen currently has an average rating of “Buy” and an average price target of $368.99.
Biogen Inc (NASDAQ BIIB) traded up $4.99 during trading on Friday, reaching $316.78. The company’s stock had a trading volume of 2,009,303 shares, compared to its average volume of 1,318,431. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen Inc has a twelve month low of $244.28 and a twelve month high of $370.57. The company has a market capitalization of $67,018.93, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last released its 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). The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $5.04 earnings per share. equities analysts expect that Biogen Inc will post 24.88 EPS for the current fiscal year.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now 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. Over the last ninety days, insiders have bought 31,560 shares of company stock worth $10,020,858. Corporate insiders own 0.25% of the company’s stock.
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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