WINTON GROUP Ltd raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 453.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,324 shares of the biotechnology company’s stock after buying an additional 6,001 shares during the period. WINTON GROUP Ltd’s holdings in Biogen were worth $2,293,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BIIB. FDO Partners LLC purchased a new position in Biogen during the first quarter valued at about $924,000. Westfield Capital Management Co. LP purchased a new position in Biogen during the first quarter valued at about $98,187,000. Israel Discount Bank of New York purchased a new position in Biogen during the first quarter valued at about $894,000. Bellevue Group AG raised its position in Biogen by 9.2% in the first quarter. Bellevue Group AG now owns 53,500 shares of the biotechnology company’s stock valued at $14,628,000 after buying an additional 4,500 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Biogen by 110.6% in the first quarter. Stephens Inc. AR now owns 18,607 shares of the biotechnology company’s stock valued at $5,088,000 after buying an additional 9,771 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
Shares of Biogen Inc. (NASDAQ:BIIB) traded down 0.60% on Tuesday, reaching $289.26. 921,570 shares of the company’s stock traded hands. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.83. The company has a 50 day moving average of $278.73 and a 200-day moving average of $273.77. The stock has a market capitalization of $61.16 billion, a PE ratio of 18.98 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.
Several equities research analysts have recently commented on BIIB shares. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Mizuho lowered their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective for the company. in a research note on Tuesday, April 25th. Cowen and Company reiterated an “outperform” rating and set a $271.00 price objective on shares of Biogen in a research note on Monday, July 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $329.74.
In other news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,816 shares of company stock worth $3,931,380. Corporate insiders own 0.32% of the company’s stock.
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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