ICICI Prudential Asset Management Co Ltd held its position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dillon & Associates Inc. raised its position in shares of 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 during the period. Beacon Trust Co. raised its position in shares of 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 during the period. Guardian Life Insurance Co. of America raised its position in shares of 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 during the period. Trust Co. of Vermont raised its position in shares of 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 during the period. Finally, Buckingham Capital Management Inc. raised its position in shares of 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 during the period. 88.70% of the stock is currently owned by institutional investors.
Biogen Inc. (BIIB) opened at 283.68 on Friday. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The firm has a market capitalization of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. The company has a 50-day moving average of $281.49 and a 200 day moving average of $273.98.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company earned $5.21 EPS. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc. will post $21.44 EPS for the current year.
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Several research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $328.00 target price (up from $317.00) 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 target for the company. in a report on Wednesday, July 26th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Finally, Stifel Nicolaus increased their price target on Biogen from $265.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $329.74.
In related news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction 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 business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. 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 quarter. 0.32% of the stock is owned by corporate 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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