Investment House LLC trimmed its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,015 shares of the biotechnology company’s stock after selling 682 shares during the period. Investment House LLC’s holdings in Biogen were worth $3,509,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Horan Capital Advisors LLC. acquired a new position in shares of Biogen during the 3rd quarter valued at $128,000. Atlantic Trust LLC acquired a new position in shares of Biogen during the 2nd quarter valued at $114,000. Massey Quick Simon & CO. LLC lifted its holdings in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after buying an additional 195 shares in the last quarter. Cable Hill Partners LLC lifted its holdings in Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock worth $152,000 after buying an additional 337 shares in the last quarter. Finally, Gs Investments Inc. acquired a new position in Biogen in the 2nd quarter worth $136,000. 87.79% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The stock was 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 owns 23,539 shares in the company, valued at $7,759,631.35. The disclosure for this sale can be found here. Insiders have acquired a total of 31,560 shares of company stock valued at $10,020,858 in the last three months. Insiders own 0.25% of the company’s stock.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 30.46% and a return on equity of 27.59%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company earned $5.04 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. sell-side analysts expect that Biogen Inc will post 24.88 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Thursday. SunTrust Banks reaffirmed a “buy” rating and set a $354.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. BMO Capital Markets reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, January 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, February 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $340.00 price target on shares of Biogen in a research note on Wednesday, October 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $368.99.
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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).
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