Global X Management Co. LLC increased its stake in shares of Biogen Inc (NASDAQ:BIIB) by 12.5% in the fourth quarter, Holdings Channel reports. The fund owned 4,428 shares of the biotechnology company’s stock after purchasing an additional 492 shares during the period. Global X Management Co. LLC’s holdings in Biogen were worth $1,411,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in Biogen by 35.1% during the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after purchasing an additional 600,384 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Biogen by 24.0% during the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after purchasing an additional 450,207 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Biogen during the third quarter valued at $123,494,000. Jackson Square Partners LLC lifted its position in Biogen by 9.3% during 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 purchasing an additional 191,526 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Biogen by 61.9% during the third quarter. Schroder Investment Management Group now owns 495,471 shares of the biotechnology company’s stock valued at $153,596,000 after purchasing an additional 189,501 shares during the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.
Several research firms have commented on BIIB. BidaskClub lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity reiterated a “hold” rating and set a $350.00 price objective on shares of Biogen in a research report on Wednesday, February 7th. Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday. Oppenheimer increased their price objective on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, William Blair reiterated a “buy” rating on shares of Biogen in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Biogen has a consensus rating of “Buy” and an average price target of $368.99.
In related news, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders purchased a total of 31,560 shares of company stock worth $10,020,858 in the last ninety days. 0.25% of the stock is currently owned by insiders.
Biogen Inc (NASDAQ BIIB) opened at $291.87 on Monday. The company has a market cap of $61,748.80, a PE ratio of 13.38, a P/E/G ratio of 1.52 and a beta of 0.75. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $370.57. 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 (NASDAQ:BIIB) last posted 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). The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.04 EPS. analysts forecast that Biogen Inc will post 24.88 earnings per share 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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