CNB Bank purchased a new stake in Biogen Inc (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,248 shares of the biotechnology company’s stock, valued at approximately $398,000.
Several other large investors have also bought and sold shares of BIIB. Advisors Asset Management Inc. raised its stake in shares of Biogen by 63.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,337 shares of the biotechnology company’s stock worth $4,176,000 after acquiring an additional 5,160 shares in the last quarter. Buckingham Capital Management Inc. raised its stake in shares of Biogen by 13.2% during the 3rd quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock worth $853,000 after acquiring an additional 318 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Biogen by 48.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 1,160 shares of the biotechnology company’s stock worth $363,000 after acquiring an additional 380 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Biogen by 1.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 19,600 shares of the biotechnology company’s stock worth $6,137,000 after acquiring an additional 350 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in shares of Biogen during the 3rd quarter worth approximately $1,785,000. Institutional investors and hedge funds own 88.90% of the company’s stock.
Biogen stock opened at $277.29 on Thursday. 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 12 month low of $244.28 and a 12 month high of $370.57. The stock has a market cap of $59,169.86, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.54 and a beta of 0.90.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $5.04 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts anticipate that Biogen Inc will post 24.87 earnings per share for the current year.
In related news, Director Robert W. Pangia sold 5,832 shares of the business’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 completion of the transaction, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alfred Sandrock sold 1,294 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $298.85, for a total transaction of $386,711.90. Following the completion of the transaction, the executive vice president now owns 7,296 shares of the company’s stock, valued at $2,180,409.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,128 shares of company stock valued at $2,601,512. Company insiders own 0.25% of the company’s stock.
BIIB has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $363.00 price objective (up previously from $340.00) on shares of Biogen in a research note on Friday, January 26th. BidaskClub downgraded shares of Biogen from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Citigroup reissued an “outperform” rating and set a $380.00 target price (up previously from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Mizuho set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Jefferies Group reissued a “hold” rating on shares of Biogen in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $370.07.
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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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