Candriam Luxembourg S.C.A. boosted its stake in Biogen (NASDAQ:BIIB) by 364.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,160 shares of the biotechnology company’s stock after purchasing an additional 161,000 shares during the quarter. Biogen comprises approximately 1.0% of Candriam Luxembourg S.C.A.’s holdings, making the stock its 12th largest holding. Candriam Luxembourg S.C.A. owned 0.10% of Biogen worth $56,179,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its position in shares of Biogen by 16.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,328 shares of the biotechnology company’s stock valued at $4,745,000 after buying an additional 2,483 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Biogen during the 1st quarter valued at about $276,000. BlackRock Inc. raised its position in shares of Biogen by 2.8% during the 1st quarter. BlackRock Inc. now owns 17,268,339 shares of the biotechnology company’s stock valued at $4,728,416,000 after buying an additional 463,656 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Biogen by 93.3% during the 1st quarter. Glen Harbor Capital Management LLC now owns 73,808 shares of the biotechnology company’s stock valued at $20,210,000 after buying an additional 35,616 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its position in shares of Biogen by 5.0% during the 1st quarter. Transamerica Financial Advisors Inc. now owns 10,272 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
Shares of Biogen opened at $280.40 on Monday, Marketbeat reports. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.95 and a current ratio of 3.23. The stock has a market capitalization of $59.17 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.64 and a beta of 0.84. Biogen has a one year low of $244.28 and a one year high of $370.57.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, April 24th. The biotechnology company reported $6.05 EPS for the quarter, topping the Zacks’ consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.20 EPS. equities analysts forecast that Biogen will post 23.9 EPS for the current fiscal year.
Several analysts have recently issued reports on BIIB shares. Mizuho set a $433.00 target price on shares of Biogen and gave the company a “buy” rating in a research report on Wednesday, April 11th. UBS upgraded shares of Biogen from a “neutral” rating to a “buy” rating and upped their target price for the company from $352.59 to $410.00 in a research report on Wednesday, January 31st. Piper Jaffray Companies decreased their target price on shares of Biogen and set an “overweight” rating on the stock in a research report on Tuesday, April 24th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. Finally, Barclays cut shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $395.00 to $295.00 in a research report on Thursday, April 5th. Eleven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Biogen currently has an average rating of “Buy” and a consensus target price of $353.71.
In other Biogen news, EVP Alfred Sandrock sold 743 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $292.00, for a total value of $216,956.00. Following the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,913,476. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander J. Denner bought 48,000 shares of the company’s stock in a transaction on Wednesday, April 25th. The stock was bought at an average price of $269.91 per share, for a total transaction of $12,955,680.00. Following the completion of the purchase, the director now directly owns 10,029 shares in the company, valued at $2,706,927.39. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
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.
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