Nicollet Investment Management Inc. Invests $1.90 Million in Biogen Inc (NASDAQ:BIIB)

Nicollet Investment Management Inc. purchased a new stake in shares of Biogen Inc (NASDAQ:BIIB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,975 shares of the biotechnology company’s stock, valued at approximately $1,903,000. Biogen comprises about 1.6% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 20th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Biogen during the third quarter valued at approximately $123,494,000. SeaCrest Wealth Management LLC bought a new stake in shares of Biogen during the fourth quarter valued at approximately $504,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Biogen by 9.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock valued at $1,862,000 after purchasing an additional 520 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Biogen by 151.3% during the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock valued at $3,333,000 after purchasing an additional 6,409 shares during the last quarter. Finally, CHICAGO TRUST Co NA bought a new stake in shares of Biogen during the fourth quarter valued at approximately $740,000. 87.79% of the stock is currently owned by institutional investors and hedge funds.

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

In related 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 completion of the transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average cost of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is currently owned by company insiders.

Biogen Inc (BIIB) traded down $20.91 on Thursday, reaching $296.08. 5,426,200 shares of the company’s stock traded hands, compared to its average volume of 1,439,726. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $370.57. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $62,610.00, a price-to-earnings ratio of 16.92, a PEG ratio of 1.65 and a beta of 0.75.

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

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About Biogen

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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