Sarissa Capital Management LP raised its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 413,858 shares of the biotechnology company’s stock after acquiring an additional 30,000 shares during the quarter. Biogen makes up approximately 33.7% of Sarissa Capital Management LP’s holdings, making the stock its biggest position. Sarissa Capital Management LP owned approximately 0.20% of Biogen worth $131,842,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of Biogen during the 4th quarter worth approximately $504,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Biogen by 9.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after acquiring an additional 520 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Biogen by 151.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock worth $3,333,000 after acquiring an additional 6,409 shares in the last quarter. CHICAGO TRUST Co NA acquired a new stake in shares of Biogen in the 4th quarter valued at approximately $740,000. Finally, Beech Hill Advisors Inc. boosted its holdings in shares of Biogen by 35.2% in the 4th quarter. Beech Hill Advisors Inc. now owns 1,987 shares of the biotechnology company’s stock valued at $633,000 after buying an additional 517 shares during the last quarter. 88.96% of the stock is owned by institutional investors.
In other news, EVP Alfred Sandrock sold 259 shares of Biogen stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the completion of the sale, the executive vice president now owns 6,553 shares of the company’s stock, valued at $1,905,808.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pangia sold 5,832 shares of Biogen 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 sale, the director now directly owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. Insiders have sold 8,128 shares of company stock valued at $2,601,512 in the last three months. Insiders own 0.25% of the company’s stock.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $5.04 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. research analysts forecast that Biogen Inc will post 24.87 EPS for the current fiscal year.
Several equities research analysts have recently commented on BIIB shares. Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday, November 13th. Oppenheimer reissued a “buy” rating and issued a $350.00 price objective on shares of Biogen in a report on Wednesday, November 22nd. Sanford C. Bernstein set a $318.00 price objective on Biogen and gave the company a “buy” rating in a report on Tuesday, November 28th. JPMorgan Chase & Co. set a $378.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday, November 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $385.00 price objective on shares of Biogen in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $370.07.
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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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