Horan Capital Management Has $7.38 Million Position in Biogen Inc (BIIB)

Horan Capital Management lessened its position in Biogen Inc (NASDAQ:BIIB) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,166 shares of the biotechnology company’s stock after selling 311 shares during the quarter. Biogen makes up about 1.5% of Horan Capital Management’s holdings, making the stock its 28th biggest holding. Horan Capital Management’s holdings in Biogen were worth $7,380,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BIIB. Janus Henderson Group PLC lifted its position in Biogen by 4,585.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after buying an additional 1,414,707 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Biogen by 35.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Biogen by 24.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after buying an additional 450,207 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Biogen in the 3rd quarter worth approximately $123,494,000. Finally, Samlyn Capital LLC lifted its position in Biogen by 64.4% in the 2nd quarter. Samlyn Capital LLC now owns 710,500 shares of the biotechnology company’s stock worth $192,801,000 after buying an additional 278,400 shares in the last quarter. Institutional investors and hedge funds own 87.79% of the company’s stock.

A number of research firms have issued reports on BIIB. Deutsche Bank reiterated a “buy” rating and issued a $373.00 target price on shares of Biogen in a research report on Friday, January 26th. Oppenheimer increased their price target on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Jefferies Group restated a “hold” rating on shares of Biogen in a research note on Friday, January 26th. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. Finally, Cowen restated a “buy” rating and set a $408.00 price target on shares of Biogen in a research note on Friday, January 26th. Nine analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $368.99.

In other Biogen news, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. Insiders acquired a total of 31,560 shares of company stock worth $10,020,858 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Biogen Inc (NASDAQ BIIB) traded up $2.53 during midday trading on Thursday, reaching $298.61. 879,661 shares of the company’s stock traded hands, compared to its average volume of 1,435,952. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The firm has a market cap of $62,610.00, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75. Biogen Inc has a 52 week low of $244.28 and a 52 week high of $370.57.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.18). The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. Biogen had a return on equity of 27.59% and a net margin of 30.46%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.04 earnings per share. sell-side analysts forecast that Biogen Inc will post 24.88 earnings per share for the current year.

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Biogen Company Profile

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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