Samalin Investment Counsel LLC acquired a new stake in Biogen Inc (NASDAQ:BIIB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 132 shares of the biotechnology company’s stock, valued at approximately $39,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Kistler Tiffany Companies LLC raised its stake in Biogen by 41.7% in the fourth quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 35 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Biogen during the third quarter worth about $30,000. Resources Management Corp CT ADV acquired a new stake in shares of Biogen during the third quarter worth about $34,000. Peddock Capital Advisors LLC acquired a new stake in shares of Biogen during the fourth quarter worth about $45,000. Finally, HWG Holdings LP acquired a new stake in shares of Biogen during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
Shares of Biogen stock traded up $0.22 during trading on Friday, hitting $334.47. 32,006 shares of the company were exchanged, compared to its average volume of 1,896,997. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. Biogen Inc has a fifty-two week low of $215.77 and a fifty-two week high of $374.99. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.13 and a beta of 1.21. The firm has a 50 day moving average price of $296.66 and a 200 day moving average price of $267.35.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.02 by $0.32. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.51 billion. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.99 EPS. Analysts predict that Biogen Inc will post 32.54 earnings per share for the current year.
Biogen declared that its Board of Directors has authorized a stock buyback plan on Saturday, December 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biotechnology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of equities analysts recently issued reports on BIIB shares. Nomura raised their price target on Biogen from $320.00 to $392.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Leerink Swann raised their price target on Biogen from $350.00 to $410.00 and gave the stock a “positive” rating in a report on Thursday, February 6th. Morgan Stanley raised their price target on Biogen from $261.00 to $302.00 and gave the stock an “underweight” rating in a report on Thursday, February 6th. Stifel Nicolaus raised their price target on Biogen from $236.00 to $296.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, William Blair reissued a “market perform” rating on shares of Biogen in a report on Tuesday. Five analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $316.69.
In other Biogen news, Director Brian S. Posner sold 1,055 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the transaction, the director now directly owns 6,995 shares in the company, valued at approximately $2,044,988.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.
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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