Lockheed Martin Investment Management Co. grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the biotechnology company’s stock after acquiring an additional 1,000 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Biogen were worth $956,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Biogen by 2.3% during the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after purchasing an additional 415,099 shares during the period. Vanguard Group Inc. increased its stake in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp increased its stake in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after acquiring an additional 140,929 shares during the period. FMR LLC increased its stake in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after acquiring an additional 561,436 shares during the period. Finally, Northern Trust Corp increased its stake in Biogen by 8.0% in the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock valued at $818,731,000 after acquiring an additional 223,371 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $321.00 target price on shares of Biogen in a research note on Tuesday, December 5th. Nomura upped their target price on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Morgan Stanley raised shares of Biogen from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $311.00 to $375.00 in a research note on Thursday, October 5th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Biogen has an average rating of “Buy” and an average price target of $353.75.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michel Vounatsos bought 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average cost of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders have bought 31,560 shares of company stock valued at $10,020,858 in the last three months. 0.25% of the stock is owned by insiders.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $344.44 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc has a 12-month low of $244.28 and a 12-month high of $348.84. The stock has a market cap of $72,840.00, a price-to-earnings ratio of 21.12, a PEG ratio of 1.96 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $5.19 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. research analysts expect that Biogen Inc will post 22 EPS for the current fiscal year.
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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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