Kazazian Asset Management LLC cut its position in Biogen Inc (NASDAQ:BIIB) by 12.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,229 shares of the biotechnology company’s stock after selling 1,272 shares during the quarter. Biogen comprises about 3.0% of Kazazian Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Kazazian Asset Management LLC’s holdings in Biogen were worth $2,940,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in Biogen in the 4th quarter valued at $113,000. Prentiss Smith & Co. Inc. bought a new stake in Biogen in the 4th quarter valued at $123,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Biogen by 77.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 174 shares during the period. Horan Capital Advisors LLC. bought a new stake in shares of Biogen during the 3rd quarter valued at $128,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Biogen during the 4th quarter valued at $133,000. Institutional investors and hedge funds own 88.93% of the company’s stock.
In related news, EVP Alfred Sandrock sold 259 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the sale, the executive vice president now owns 6,553 shares in the company, valued at approximately $1,905,808.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. Insiders sold a total of 8,128 shares of company stock worth $2,601,512 in the last quarter. Corporate insiders own 0.25% of the company’s stock.
BIIB traded down $7.33 on Friday, reaching $257.65. The stock had a trading volume of 1,954,005 shares, compared to its average volume of 1,736,119. Biogen Inc has a fifty-two week low of $244.28 and a fifty-two week high of $370.57. The stock has a market cap of $56,059.89, a PE ratio of 11.81, a PEG ratio of 1.46 and a beta of 0.86. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $5.04 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. equities research analysts expect that Biogen Inc will post 24.82 EPS for the current year.
BIIB has been the subject of a number of recent analyst reports. Credit Suisse Group upgraded Biogen from a “neutral” rating to an “outperform” rating and upped their target price for the company from $321.00 to $385.00 in a research report on Wednesday, December 20th. Nomura upped their target price on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research report on Saturday, December 30th. Robert W. Baird reiterated a “hold” rating on shares of Biogen in a research report on Thursday, January 25th. Citigroup reiterated an “outperform” rating and set a $380.00 target price (up from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Finally, Canaccord Genuity set a $340.00 target price on Biogen and gave the company a “hold” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $366.49.
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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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