Afam Capital Inc. increased its stake in shares of Biogen Inc (NASDAQ:BIIB) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,300 shares of the biotechnology company’s stock after buying an additional 227 shares during the quarter. Afam Capital Inc.’s holdings in Biogen were worth $5,511,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Biogen by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,390,527 shares of the biotechnology company’s stock worth $761,552,000 after purchasing an additional 64,540 shares during the period. Ameriprise Financial Inc. lifted its stake in Biogen by 35.1% in the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after acquiring an additional 600,384 shares during the last quarter. Jackson Square Partners LLC lifted its stake in Biogen by 9.3% in the third quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock valued at $704,286,000 after acquiring an additional 191,526 shares during the last quarter. Legal & General Group Plc lifted its stake in Biogen by 1.6% in the third quarter. Legal & General Group Plc now owns 1,089,590 shares of the biotechnology company’s stock valued at $341,155,000 after acquiring an additional 16,871 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Biogen by 10.5% in the fourth quarter. American Century Companies Inc. now owns 1,001,387 shares of the biotechnology company’s stock valued at $319,012,000 after acquiring an additional 95,432 shares during the last quarter. Institutional investors and hedge funds own 87.79% of the company’s stock.
In other news, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Vounatsos bought 780 shares of Biogen stock in a transaction dated Friday, December 29th. The stock was purchased at an average price of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Insiders bought a total of 31,560 shares of company stock worth $10,020,858 in the last 90 days. 0.25% of the stock is owned by corporate insiders.
Shares of Biogen Inc (NASDAQ BIIB) opened at $291.87 on Friday. Biogen Inc has a 52 week low of $244.28 and a 52 week high of $370.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34. The firm has a market cap of $60,200.00, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.56 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $5.04 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. equities analysts forecast that Biogen Inc will post 24.88 EPS for the current fiscal year.
A number of research firms have issued reports on BIIB. BidaskClub cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity reiterated a “hold” rating and issued a $350.00 target price on shares of Biogen in a research note on Wednesday, February 7th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer lifted their target price on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a research note on Thursday, February 8th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average price target of $368.99.
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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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