National Asset Management Inc. raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,788 shares of the biotechnology company’s stock after buying an additional 225 shares during the period. National Asset Management Inc.’s holdings in Biogen were worth $490,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Pathstone Family Office LLC acquired a new position in shares of Biogen during the first quarter worth about $102,000. Crestwood Advisors Group LLC acquired a new position in shares of Biogen during the first quarter worth about $106,000. Winfield Associates Inc. raised its position in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the last quarter. Rational Advisors LLC raised its position in shares of Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock worth $162,000 after buying an additional 74 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new position in shares of Biogen during the first quarter worth about $164,000. 88.75% of the stock is currently owned by institutional investors.
Biogen Inc. (NASDAQ BIIB) opened at 287.44 on Monday. The company has a market cap of $60.77 billion, a P/E ratio of 18.86 and a beta of 0.77. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $307.76. The firm has a 50-day moving average price of $274.41 and a 200 day moving average price of $273.68.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the company earned $5.21 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that Biogen Inc. will post $21.33 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Citigroup Inc. upped their price target on Biogen from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price target on the stock. in a research report on Tuesday, April 25th. Cowen and Company restated a “buy” rating and set a $338.00 price objective on shares of Biogen in a research note on Tuesday, April 25th. Piper Jaffray Companies set a $442.00 price objective on Biogen and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average target price of $328.89.
In other news, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
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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