Alps Advisors Inc. lowered its position in Biogen Inc (NASDAQ:BIIB) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,802 shares of the biotechnology company’s stock after selling 198 shares during the period. Alps Advisors Inc.’s holdings in Biogen were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIIB. Advisory Services Network LLC increased its position in shares of Biogen by 2.0% during the second quarter. Advisory Services Network LLC now owns 2,961 shares of the biotechnology company’s stock worth $803,000 after acquiring an additional 58 shares during the period. Girard Partners LTD. increased its position in shares of Biogen by 16.6% during the third quarter. Girard Partners LTD. now owns 1,125 shares of the biotechnology company’s stock worth $352,000 after acquiring an additional 160 shares during the period. IFC Holdings Incorporated FL increased its position in shares of Biogen by 4.1% during the fourth quarter. IFC Holdings Incorporated FL now owns 4,050 shares of the biotechnology company’s stock worth $1,293,000 after acquiring an additional 160 shares during the period. Cue Financial Group Inc. increased its position in shares of Biogen by 11.3% during the fourth quarter. Cue Financial Group Inc. now owns 1,628 shares of the biotechnology company’s stock worth $519,000 after acquiring an additional 165 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 174 shares during the period. 87.79% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction dated Friday, December 29th. The stock was acquired at an average cost of $320.55 per share, for a total transaction of $250,029.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. Insiders have bought 31,560 shares of company stock valued at $10,020,858 over the last quarter. Insiders own 0.25% of the company’s stock.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $316.63 on Tuesday. Biogen Inc has a one year low of $244.28 and a one year high of $370.57. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. The company has a market cap of $66,960.00, a price-to-earnings ratio of 26.59, a PEG ratio of 1.65 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm posted $5.04 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. research analysts predict that Biogen Inc will post 24.88 EPS for the current fiscal year.
A number of brokerages have recently commented on BIIB. Credit Suisse Group raised shares of Biogen to a “buy” rating and set a $384.00 target price on the stock in a research report on Wednesday, February 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a report on Thursday, February 8th. Canaccord Genuity reissued a “hold” rating and set a $350.00 price objective on shares of Biogen in a report on Wednesday, February 7th. Mizuho reissued a “buy” rating and set a $433.00 price objective (up from $400.00) on shares of Biogen in a report on Sunday, February 4th. Finally, UBS Group raised shares of Biogen from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $352.59 to $410.00 in a report on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $368.99.
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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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