Shine Investment Advisory Services Inc. grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 209.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294 shares of the biotechnology company’s stock after acquiring an additional 199 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Biogen were worth $69,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Portfolio Solutions LLC purchased a new stake in shares of Biogen during the fourth quarter worth $26,000. Northwest Wealth Management LLC lifted its position in shares of Biogen by 188.9% during the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Biogen during the fourth quarter worth $32,000. IMS Capital Management purchased a new stake in shares of Biogen during the third quarter worth $38,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Biogen during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.
In other news, Director Alexander J. Denner bought 7,000 shares of Biogen stock in a transaction that occurred on Friday, February 1st. The shares were acquired at an average price of $328.45 per share, with a total value of $2,299,150.00. Following the completion of the purchase, the director now directly owns 10,909 shares in the company, valued at $3,583,061.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pangia sold 6,114 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the transaction, the director now directly owns 24,701 shares in the company, valued at $8,115,513.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.
BIIB has been the topic of several recent research reports. BMO Capital Markets initiated coverage on Biogen in a research report on Friday, February 22nd. They set a “market perform” rating and a $322.00 target price on the stock. Mizuho set a $427.00 price target on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, January 29th. Oppenheimer decreased their price target on shares of Biogen from $380.00 to $372.00 and set an “outperform” rating on the stock in a report on Tuesday, December 18th. ValuEngine cut shares of Biogen from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. Finally, Bank of America cut shares of Biogen from a “buy” rating to a “neutral” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $295.04.
BIIB opened at $228.72 on Wednesday. The firm has a market capitalization of $44.99 billion, a P/E ratio of 8.73, a PEG ratio of 0.90 and a beta of 1.04. The company has a current ratio of 2.32, a quick ratio of 2.04 and a debt-to-equity ratio of 0.46. Biogen Inc has a 52 week low of $216.12 and a 52 week high of $388.67.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating the Zacks’ consensus estimate of $6.72 by $0.27. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.26 earnings per share. As a group, sell-side analysts anticipate that Biogen Inc will post 28.88 earnings per share for the current fiscal year.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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