Comgest Global Investors S.A.S. increased its stake in Biogen Inc (NASDAQ:BIIB) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,000 shares of the biotechnology company’s stock after buying an additional 1,000 shares during the period. Comgest Global Investors S.A.S.’s holdings in Biogen were worth $5,734,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of BIIB. Exane Derivatives boosted its holdings in shares of Biogen by 810.3% in the 3rd quarter. Exane Derivatives now owns 710 shares of the biotechnology company’s stock worth $222,000 after buying an additional 632 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Biogen by 64.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,753 shares of the biotechnology company’s stock worth $3,054,000 after buying an additional 3,826 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Biogen by 21.2% in the 3rd quarter. Tributary Capital Management LLC now owns 2,000 shares of the biotechnology company’s stock worth $626,000 after buying an additional 350 shares during the last quarter. Oakbrook Investments LLC boosted its holdings in shares of Biogen by 321.2% in the 3rd quarter. Oakbrook Investments LLC now owns 52,970 shares of the biotechnology company’s stock worth $16,586,000 after buying an additional 40,395 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in shares of Biogen by 4.1% in the 3rd quarter. LS Investment Advisors LLC now owns 6,545 shares of the biotechnology company’s stock worth $2,049,000 after buying an additional 258 shares during the last quarter. 89.20% of the stock is currently owned by institutional investors.
Shares of Biogen Inc (BIIB) opened at $291.87 on Tuesday. Biogen Inc has a 52-week low of $244.28 and a 52-week high of $370.57. The firm has a market capitalization of $61,748.80, a PE ratio of 24.49, a PEG ratio of 1.52 and a beta of 0.75. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a net margin of 20.69% and a return on equity of 38.32%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.04 earnings per share. sell-side analysts predict that Biogen Inc will post 24.88 EPS for the current year.
A number of brokerages recently weighed in on BIIB. Deutsche Bank reissued a “buy” rating and issued a $373.00 price target on shares of Biogen in a report on Friday, January 26th. Oppenheimer boosted their price target on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Jefferies Group reaffirmed a “hold” rating on shares of Biogen in a report on Friday, January 26th. BMO Capital Markets reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, January 25th. Finally, Cowen reaffirmed a “buy” rating and set a $408.00 price objective on shares of Biogen in a report on Friday, January 26th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $368.99.
In related news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was bought at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the completion of the transaction, the chief executive officer now owns 4,879 shares of the company’s stock, valued at approximately $1,563,963.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is owned by company insiders.
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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