2,139 Shares in Biogen Inc (BIIB) Purchased by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in Biogen Inc (NASDAQ:BIIB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,139 shares of the biotechnology company’s stock, valued at approximately $586,000.

Several other institutional investors have also bought and sold shares of the company. RiverPoint Capital Management LLC increased its stake in Biogen by 2.4% during the fourth quarter. RiverPoint Capital Management LLC now owns 7,765 shares of the biotechnology company’s stock valued at $2,474,000 after acquiring an additional 185 shares during the period. Augustine Asset Management Inc. increased its stake in Biogen by 2.0% during the first quarter. Augustine Asset Management Inc. now owns 9,665 shares of the biotechnology company’s stock valued at $2,646,000 after acquiring an additional 194 shares during the period. Massey Quick Simon & CO. LLC increased its stake in Biogen by 45.9% during the first quarter. Massey Quick Simon & CO. LLC now owns 620 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 195 shares during the period. Intact Investment Management Inc. increased its stake in Biogen by 16.7% during the first quarter. Intact Investment Management Inc. now owns 1,400 shares of the biotechnology company’s stock valued at $383,000 after acquiring an additional 200 shares during the period. Finally, Bank of Hawaii grew its stake in shares of Biogen by 15.9% in the 4th quarter. Bank of Hawaii now owns 1,497 shares of the biotechnology company’s stock valued at $477,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

BIIB has been the topic of several analyst reports. BidaskClub lowered Biogen from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Sanford C. Bernstein set a $318.00 price objective on Biogen and gave the company a “buy” rating in a research note on Tuesday, April 10th. Credit Suisse Group set a $384.00 price objective on Biogen and gave the company a “buy” rating in a research note on Tuesday, April 17th. Cowen reiterated a “buy” rating and issued a $408.00 price objective on shares of Biogen in a research note on Tuesday, April 24th. Finally, Citigroup lowered their price objective on Biogen from $360.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $353.18.

In other Biogen news, Director Alexander J. Denner bought 48,000 shares of the company’s stock in a transaction on Wednesday, April 25th. The stock was bought at an average price of $269.91 per share, for a total transaction of $12,955,680.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $2,706,927.39. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Biogen opened at $296.04 on Friday, MarketBeat reports. Biogen Inc has a 52-week low of $249.17 and a 52-week high of $370.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.95 and a current ratio of 3.23. The firm has a market cap of $62.74 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.69 and a beta of 0.84.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.12. Biogen had a return on equity of 37.64% and a net margin of 23.54%. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $5.20 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. analysts expect that Biogen Inc will post 23.85 earnings per share for the current year.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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