HBK Investments L P acquired a new stake in Biogen Inc (NASDAQ:BIIB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,700 shares of the biotechnology company’s stock, valued at approximately $9,143,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in Biogen in the fourth quarter valued at approximately $504,000. Cambridge Investment Research Advisors Inc. raised its position in Biogen by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock valued at $1,862,000 after purchasing an additional 520 shares during the period. Cubist Systematic Strategies LLC raised its position in Biogen by 151.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock valued at $3,333,000 after purchasing an additional 6,409 shares during the period. CHICAGO TRUST Co NA purchased a new stake in Biogen in the fourth quarter valued at approximately $740,000. Finally, Beech Hill Advisors Inc. raised its position in Biogen by 35.2% in the fourth quarter. Beech Hill Advisors Inc. now owns 1,987 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 517 shares during the period. Hedge funds and other institutional investors own 88.96% of the company’s stock.
Biogen Inc (BIIB) opened at $283.24 on Wednesday. The company has a market capitalization of $59,216.40, a price-to-earnings ratio of 23.76, a P/E/G ratio of 1.54 and a beta of 0.90. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen Inc has a twelve month low of $244.28 and a twelve month high of $370.57.
In related news, Director Robert W. Pangia sold 5,832 shares of the 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 transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alfred Sandrock sold 259 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,905,808.99. The disclosure for this sale can be found here. Insiders sold 8,128 shares of company stock worth $2,601,512 in the last three months. 0.25% of the stock is currently owned by corporate insiders.
A number of analysts have issued reports on BIIB shares. Oppenheimer reissued a “buy” rating and issued a $350.00 target price on shares of Biogen in a research report on Wednesday, November 22nd. Mizuho set a $400.00 target price on Biogen and gave the company a “buy” rating in a research report on Monday, November 27th. Sanford C. Bernstein set a $318.00 target price on Biogen and gave the company a “buy” rating in a research report on Tuesday, November 28th. JPMorgan Chase & Co. set a $378.00 target price on Biogen and gave the company a “buy” rating in a research report on Monday, November 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $385.00 target price on shares of Biogen in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $370.07.
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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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