Louisiana State Employees Retirement System decreased its holdings in Biogen Inc (NASDAQ:BIIB) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,800 shares of the biotechnology company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Biogen were worth $4,078,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bienville Capital Management LLC grew its holdings in Biogen by 2.2% in the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock valued at $239,000 after buying an additional 19 shares during the period. Forbes J M & Co. LLP grew its holdings in Biogen by 0.6% in the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock valued at $846,000 after buying an additional 19 shares during the period. People s United Financial Inc. grew its holdings in Biogen by 1.1% in the 2nd quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock valued at $616,000 after buying an additional 25 shares during the period. Linscomb & Williams Inc. lifted its stake in shares of Biogen by 2.5% in the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 29 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its stake in shares of Biogen by 1.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock valued at $816,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 88.14% of the company’s stock.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 23,539 shares in the company, valued at $7,759,631.35. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is currently owned by corporate insiders.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $5.19 EPS. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts anticipate that Biogen Inc will post 22 earnings per share for the current year.
Several equities analysts have recently weighed in on BIIB shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Biogen in a research note on Monday, December 18th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research note on Tuesday, December 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $354.00 price objective on shares of Biogen in a research note on Tuesday, October 24th. Nomura lifted their price objective on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Finally, Canaccord Genuity started coverage on Biogen in a research note on Friday, October 27th. They issued a “hold” rating and a $340.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $353.41.
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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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