Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Biogen Inc (NASDAQ:BIIB) by 22.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,964 shares of the biotechnology company’s stock after buying an additional 29,597 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Biogen worth $50,641,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of BIIB. Bamco Inc. NY increased its stake in Biogen by 95.2% in the 2nd quarter. Bamco Inc. NY now owns 12,935 shares of the biotechnology company’s stock worth $3,510,000 after buying an additional 6,310 shares during the period. Stifel Financial Corp increased its stake in Biogen by 30.9% in the 2nd quarter. Stifel Financial Corp now owns 148,278 shares of the biotechnology company’s stock worth $40,169,000 after buying an additional 34,992 shares during the period. GMT Capital Corp grew its holdings in Biogen by 14.3% during the 2nd quarter. GMT Capital Corp now owns 252,200 shares of the biotechnology company’s stock worth $69,085,000 after acquiring an additional 31,600 shares in the last quarter. Risk Paradigm Group LLC grew its holdings in Biogen by 8.9% during the 2nd quarter. Risk Paradigm Group LLC now owns 710 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 58 shares in the last quarter. Finally, Tekla Capital Management LLC grew its holdings in Biogen by 9.2% during the 2nd quarter. Tekla Capital Management LLC now owns 529,774 shares of the biotechnology company’s stock worth $143,759,000 after acquiring an additional 44,800 shares in the last quarter. 87.79% of the stock is currently owned by institutional investors.
In other Biogen news, CEO Michel Vounatsos purchased 780 shares of Biogen stock in a transaction on Friday, December 29th. The stock was bought at an average cost of $320.55 per share, with a total value of $250,029.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the transaction, the director now directly owns 23,539 shares of the company’s stock, 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 over the last three months. 0.25% of the stock is currently owned by insiders.
Biogen (NASDAQ:BIIB) last released its earnings results 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned $5.04 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. sell-side analysts anticipate that Biogen Inc will post 24.88 earnings per share for the current year.
Several brokerages have issued reports on BIIB. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a report on Thursday, February 8th. BidaskClub cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Thursday. Canaccord Genuity reiterated a “hold” rating and set a $350.00 target price on shares of Biogen in a report on Wednesday, February 7th. Oppenheimer increased their target price on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Credit Suisse Group upgraded shares of Biogen to a “buy” rating and set a $384.00 target price on the stock in a report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $368.99.
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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