ICICI Prudential Asset Management Co Ltd held its position in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,696 shares of the biotechnology company’s stock at the end of the first quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Biogen were worth $464,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Biogen during the first quarter worth approximately $345,143,000. Westfield Capital Management Co. LP bought a new position in shares of Biogen during the first quarter worth approximately $98,187,000. Vanguard Group Inc. increased its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after buying an additional 294,308 shares in the last quarter. 88.75% of the stock is owned by institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) traded up 0.07% on Friday, reaching $286.29. The company had a trading volume of 39,369 shares. The stock has a 50 day moving average price of $276.09 and a 200-day moving average price of $273.47. The company has a market capitalization of $60.53 billion, a price-to-earnings ratio of 18.79 and a beta of 0.79. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $304.23.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.21 EPS. Analysts forecast that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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A number of brokerages have recently commented on BIIB. Morgan Stanley reissued an “equal weight” rating and set a $307.00 price objective on shares of Biogen in a research report on Wednesday, June 14th. UBS AG raised Biogen from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $262.00 to $270.00 in a research report on Monday, June 19th. Leerink Swann reissued a “market perform” rating and set a $338.00 price objective (up from $304.00) on shares of Biogen in a research report on Wednesday, July 26th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective for the company. in a research report on Wednesday, July 26th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $310.00 price target on shares of Biogen in a report on Tuesday, April 25th. Twelve investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $329.74.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock worth $3,931,380 in the last ninety days. 0.32% of the stock is owned by company insiders.
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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