Marshall Wace LLP reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 96.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,358 shares of the biotechnology company’s stock after selling 85,489 shares during the period. Marshall Wace LLP’s holdings in Biogen were worth $917,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Dillon & Associates Inc. increased its stake in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock valued at $487,000 after buying an additional 5 shares in the last quarter. Beacon Trust Co. increased its stake in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares in the last quarter. Trust Co. of Vermont increased its stake in Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 7 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after buying an additional 8 shares in the last quarter. 87.47% of the stock is owned by institutional investors.
Shares of Biogen Inc. (BIIB) opened at 282.92 on Friday. The company’s 50 day moving average is $269.15 and its 200-day moving average is $273.86. The firm has a market cap of $60.01 billion, a PE ratio of 17.72 and a beta of 0.78. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $307.76.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.23. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.73 billion. Biogen had a return on equity of 38.17% and a net margin of 30.17%. Biogen’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.79 earnings per share. Equities research analysts predict that Biogen Inc. will post $20.44 EPS for the current year.
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Several research firms recently issued reports on BIIB. BMO Capital Markets reaffirmed a “hold” rating and set a $318.00 price objective on shares of Biogen in a report on Tuesday. Credit Suisse Group set a $300.00 price objective on shares of Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $306.48 price objective for the company in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $310.00 price objective on shares of Biogen in a report on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Biogen in a report on Monday, July 10th. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $325.48.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul J. Clancy sold 9,892 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $290.00, for a total value of $2,868,680.00. Following the transaction, the vice president now directly owns 10,813 shares of the company’s stock, valued at approximately $3,135,770. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,734 shares of company stock valued at $5,357,550. 0.32% of the stock is owned by insiders.
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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