Ingalls & Snyder LLC Has $2.12 Million Stake in Biogen Inc (BIIB)

Ingalls & Snyder LLC lifted its stake in Biogen Inc (NASDAQ:BIIB) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,668 shares of the biotechnology company’s stock after buying an additional 491 shares during the period. Ingalls & Snyder LLC’s holdings in Biogen were worth $2,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Empirical Finance LLC increased its holdings in shares of Biogen by 3.4% in the second quarter. Empirical Finance LLC now owns 3,838 shares of the biotechnology company’s stock worth $1,042,000 after buying an additional 127 shares during the period. Seven Eight Capital LP increased its holdings in shares of Biogen by 226.7% in the second quarter. Seven Eight Capital LP now owns 4,900 shares of the biotechnology company’s stock worth $1,330,000 after buying an additional 3,400 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Biogen by 28.8% in the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after buying an additional 426,821 shares during the period. Norinchukin Bank The increased its holdings in shares of Biogen by 2.9% in the second quarter. Norinchukin Bank The now owns 25,814 shares of the biotechnology company’s stock worth $7,005,000 after buying an additional 725 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Biogen in the second quarter worth about $324,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Several research firms have recently commented on BIIB. Royal Bank of Canada reiterated a “hold” rating and issued a $321.00 price objective on shares of Biogen in a report on Tuesday, December 5th. Nomura boosted their price target on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a report on Saturday, December 30th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $375.00 in a report on Thursday, October 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $353.75.

In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Insiders purchased a total of 31,560 shares of company stock worth $10,020,858 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Shares of Biogen Inc (NASDAQ:BIIB) opened at $342.41 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen Inc has a 12-month low of $244.28 and a 12-month high of $348.84. The company has a market capitalization of $71,990.00, a P/E ratio of 20.99, a PEG ratio of 1.96 and a beta of 0.73.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.19 EPS. research analysts predict that Biogen Inc will post 22 earnings per share for the current year.

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Biogen 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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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