Moreno Evelyn V lessened its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,024 shares of the biotechnology company’s stock after selling 162 shares during the quarter. Moreno Evelyn V’s holdings in Biogen were worth $4,496,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BIIB. Northwest Wealth Management LLC increased its stake in Biogen by 188.9% in the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares during the period. Portfolio Solutions LLC purchased a new position in Biogen in the 4th quarter worth approximately $26,000. Doyle Wealth Management purchased a new position in Biogen in the 4th quarter worth approximately $32,000. Somerset Trust Co increased its stake in Biogen by 150.0% in the 1st quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 84 shares during the period. Finally, IMS Capital Management purchased a new position in Biogen in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.
A number of equities analysts have commented on the company. Canaccord Genuity cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the stock from $396.00 to $275.00 in a research note on Thursday, March 21st. Wells Fargo & Co cut Biogen from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. cut Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 price target on the stock. in a research note on Thursday, March 21st. William Blair cut Biogen from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 21st. Finally, Morgan Stanley cut Biogen from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $401.00 to $210.00 in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $295.04.
Biogen stock opened at $227.18 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.04 and a current ratio of 2.32. Biogen Inc has a 12 month low of $216.12 and a 12 month high of $388.67. The firm has a market capitalization of $44.69 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.90 and a beta of 1.04.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.72 by $0.27. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the company posted $5.26 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts predict that Biogen Inc will post 28.88 EPS for the current year.
In other news, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the transaction, the director now directly owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the stock in a transaction dated Wednesday, January 30th. The shares were acquired at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the acquisition, the director now owns 10,909 shares of the company’s stock, valued at $3,543,897.74. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
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Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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