Advisor Group Inc. cut its stake in shares of Biogen Inc (NASDAQ:BIIB) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,195 shares of the biotechnology company’s stock after selling 408 shares during the quarter. Advisor Group Inc.’s holdings in Biogen were worth $3,565,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Compton Capital Management Inc. RI purchased a new position in shares of Biogen during the fourth quarter worth approximately $321,000. Granite Springs Asset Management LLC purchased a new position in shares of Biogen during the fourth quarter worth approximately $620,000. Fred Alger Management Inc. increased its position in shares of Biogen by 71.1% during the fourth quarter. Fred Alger Management Inc. now owns 13,329 shares of the biotechnology company’s stock worth $4,246,000 after acquiring an additional 5,537 shares during the period. Bamco Inc. NY increased its holdings in Biogen by 14.8% during the fourth quarter. Bamco Inc. NY now owns 14,868 shares of the biotechnology company’s stock valued at $4,736,000 after buying an additional 1,917 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Biogen by 16.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,120 shares of the biotechnology company’s stock valued at $72,035,000 after buying an additional 31,644 shares during the period. 88.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the sale, the director now directly owns 23,539 shares in the company, valued at $7,759,631.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction dated Friday, December 29th. The shares were bought at an average price of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders have sold 8,128 shares of company stock valued at $2,601,512 over the last quarter. Insiders own 0.25% of the company’s stock.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ 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 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 firm posted $5.04 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. research analysts predict that Biogen Inc will post 24.87 EPS for the current fiscal year.
Several equities analysts recently issued reports on BIIB shares. Credit Suisse Group raised shares of Biogen from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $321.00 to $385.00 in a report on Wednesday, December 20th. Oppenheimer set a $350.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Monday, December 4th. Nomura lifted their price objective on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a report on Saturday, December 30th. Robert W. Baird reissued a “hold” rating on shares of Biogen in a report on Thursday, January 25th. Finally, Cowen reissued a “buy” rating and set a $338.00 price objective on shares of Biogen in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average 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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