Sphera Funds Management LTD. reduced its position in Biogen Inc (NASDAQ:BIIB) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,200 shares of the biotechnology company’s stock after selling 30,800 shares during the quarter. Biogen makes up 2.8% of Sphera Funds Management LTD.’s portfolio, making the stock its 4th largest holding. Sphera Funds Management LTD.’s holdings in Biogen were worth $23,638,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Capital Analysts LLC lifted its position in Biogen by 12,266.4% in the fourth quarter. Capital Analysts LLC now owns 47,858 shares of the biotechnology company’s stock worth $2,558,000 after purchasing an additional 47,471 shares during the period. Pinnacle Associates Ltd. lifted its position in Biogen by 44.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 13,343 shares of the biotechnology company’s stock worth $4,251,000 after purchasing an additional 4,091 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of Biogen by 4.0% during the fourth quarter. State of Tennessee Treasury Department now owns 154,764 shares of the biotechnology company’s stock valued at $49,304,000 after acquiring an additional 5,986 shares during the period. Pzena Investment Management LLC bought a new position in shares of Biogen during the fourth quarter valued at $297,000. Finally, Dragon Financial & Investment Group LLC bought a new position in shares of Biogen during the fourth quarter valued at $334,000. 89.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Biogen Inc (NASDAQ BIIB) opened at $286.10 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $60,530.00, a PE ratio of 16.44, a P/E/G ratio of 1.50 and a beta of 0.75. Biogen Inc has a 12-month low of $244.28 and a 12-month high of $370.57.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. Biogen’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.04 earnings per share. analysts anticipate that Biogen Inc will post 24.88 EPS for the current year.
A number of brokerages have issued reports on BIIB. BMO Capital Markets reissued a “buy” rating on shares of Biogen in a report on Thursday, January 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a report on Thursday, February 8th. Argus cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, February 16th. HC Wainwright reissued a “buy” rating and set a $340.00 price objective on shares of Biogen in a report on Wednesday, October 25th. Finally, Canaccord Genuity lifted their price objective on Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Biogen presently has a consensus rating of “Buy” and a consensus target price of $368.99.
In related news, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the sale, the director now directly owns 23,539 shares in the company, valued at $7,759,631.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alfred Sandrock sold 743 shares of Biogen stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $292.00, for a total value of $216,956.00. Following the completion of the sale, the executive vice president now owns 6,553 shares of the company’s stock, valued at $1,913,476. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 31,560 shares of company stock valued at $10,020,858 and sold 7,869 shares valued at $2,526,187. 0.25% of the stock is owned by company insiders.
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Biogen Company Profile
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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