Sheaff Brock Investment Advisors LLC decreased its holdings in Biogen Inc (NASDAQ:BIIB) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,739 shares of the biotechnology company’s stock after selling 150 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Biogen were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in BIIB. BTIM Corp. increased its holdings in shares of Biogen by 132.0% during the fourth quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock valued at $1,822,000 after acquiring an additional 3,445 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Biogen by 4.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock valued at $40,691,000 after acquiring an additional 5,587 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Biogen by 34.3% in the 4th quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock worth $32,028,000 after buying an additional 27,164 shares in the last quarter. Smith Asset Management Group LP increased its holdings in Biogen by 31.5% in the 4th quarter. Smith Asset Management Group LP now owns 115,491 shares of the biotechnology company’s stock worth $34,872,000 after buying an additional 27,672 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in Biogen by 0.9% in the 1st quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock worth $1,610,000 after buying an additional 60 shares in the last quarter. 88.33% of the stock is owned by institutional investors.
Several research firms recently commented on BIIB. Canaccord Genuity downgraded Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $396.00 to $275.00 in a report on Thursday, March 21st. Wells Fargo & Co downgraded Biogen from an “outperform” rating to a “market perform” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. downgraded Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 price objective for the company. in a report on Thursday, March 21st. Argus restated a “hold” rating on shares of Biogen in a research note on Tuesday, May 7th. Finally, Citigroup restated a “neutral” rating on shares of Biogen in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the stock. Biogen presently has a consensus rating of “Hold” and a consensus target price of $283.23.
NASDAQ BIIB traded down $2.05 during trading hours on Friday, reaching $227.06. The company’s stock had a trading volume of 1,738,935 shares, compared to its average volume of 2,074,054. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. Biogen Inc has a 1 year low of $216.12 and a 1 year high of $388.67. The stock has a market cap of $45.16 billion, a PE ratio of 8.67, a P/E/G ratio of 1.04 and a beta of 1.01.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company posted $6.05 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Biogen Inc will post 29.58 EPS for the current fiscal year.
In related news, Director Alexander J. Denner bought 118,342 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $229.94 per share, with a total value of $27,211,559.48. Following the transaction, the director now owns 10,909 shares in the company, valued at approximately $2,508,415.46. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michel Vounatsos bought 4,351 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $231.48 per share, for a total transaction of $1,007,169.48. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 173,035 shares of company stock worth $39,759,632. Corporate insiders own 0.29% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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