Summit Trail Advisors LLC grew its position in Biogen Inc (NASDAQ:BIIB) by 29.7% in the first quarter, Holdings Channel reports. The fund owned 7,779 shares of the biotechnology company’s stock after buying an additional 1,780 shares during the period. Summit Trail Advisors LLC’s holdings in Biogen were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Biogen in the 4th quarter valued at approximately $261,000. Banco de Sabadell S.A bought a new stake in shares of Biogen in the 4th quarter valued at approximately $7,061,000. Wealthsource Partners LLC bought a new stake in shares of Biogen in the 4th quarter valued at approximately $217,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Biogen by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 236,265 shares of the biotechnology company’s stock valued at $64,531,000 after acquiring an additional 18,913 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Biogen by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 1,438,020 shares of the biotechnology company’s stock valued at $458,114,000 after acquiring an additional 45,975 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.
Shares of Biogen opened at $295.77 on Tuesday, MarketBeat reports. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $370.57. The firm has a market cap of $61.24 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.41 and a beta of 0.80.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.93 by $0.12. Biogen had a return on equity of 37.64% and a net margin of 23.54%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $5.20 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. equities analysts expect that Biogen Inc will post 23.85 EPS for the current year.
In other Biogen news, Director Alexander J. Denner purchased 48,000 shares of Biogen 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 transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $2,706,927.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.
A number of equities research analysts have recently weighed in on BIIB shares. TheStreet upgraded Biogen from a “c” rating to a “b-” rating in a report on Monday, April 30th. Stifel Nicolaus set a $425.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, April 24th. Guggenheim set a $385.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, April 24th. Credit Suisse Group set a $384.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, April 24th. Finally, SunTrust Banks set a $321.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, April 24th. Nine research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $353.18.
Biogen Company 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.
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