Biogen (BIIB) Position Boosted by Arlington Partners LLC

Arlington Partners LLC raised its position in Biogen (NASDAQ:BIIB) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,265 shares of the biotechnology company’s stock after buying an additional 225 shares during the period. Arlington Partners LLC’s holdings in Biogen were worth $620,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BIIB. Alliancebernstein L.P. raised its stake in shares of Biogen by 27.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after purchasing an additional 727,007 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Biogen by 13.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,076,215 shares of the biotechnology company’s stock valued at $568,508,000 after purchasing an additional 246,436 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Biogen by 426.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 245,830 shares of the biotechnology company’s stock valued at $78,314,000 after purchasing an additional 199,140 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Biogen by 17.0% in the 1st quarter. American Century Companies Inc. now owns 1,171,329 shares of the biotechnology company’s stock valued at $320,733,000 after purchasing an additional 169,942 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Biogen by 47.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 430,838 shares of the biotechnology company’s stock valued at $117,973,000 after purchasing an additional 139,562 shares in the last quarter. 89.74% of the stock is owned by institutional investors.

BIIB has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Biogen from a “c” rating to a “b-” rating in a research note on Monday, April 30th. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase set a $378.00 price objective on shares of Biogen and gave the stock a “buy” rating in a research note on Thursday, January 25th. Goldman Sachs set a $390.00 price objective on shares of Biogen and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Oppenheimer increased their price objective on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and a consensus price target of $353.71.

In other news, EVP Alfred Sandrock sold 259 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at $1,905,808.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander J. Denner acquired 48,000 shares of the firm’s stock in a transaction dated Wednesday, April 25th. The stock was bought at an average price of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at $2,706,927.39. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

Biogen stock opened at $280.57 on Friday. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $59.40 billion, a PE ratio of 12.86, a P/E/G ratio of 1.65 and a beta of 0.84. Biogen has a 12-month low of $276.94 and a 12-month high of $281.57.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $5.20 earnings per share. sell-side analysts anticipate that Biogen will post 23.9 EPS for the current fiscal year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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