MARSHALL WACE ASIA Ltd bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 140,709 shares of the biotechnology company’s stock, valued at approximately $38,414,000. MARSHALL WACE ASIA Ltd owned approximately 0.07% of Biogen at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. IFM Investors Pty Ltd purchased a new position in Biogen during the fourth quarter valued at approximately $809,000. Thrivent Financial for Lutherans raised its stake in shares of Biogen by 79.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 51,310 shares of the biotechnology company’s stock valued at $14,551,000 after buying an additional 22,770 shares during the last quarter. Putnam Investments LLC raised its stake in shares of Biogen by 11.8% in the fourth quarter. Putnam Investments LLC now owns 810,545 shares of the biotechnology company’s stock valued at $229,854,000 after buying an additional 85,492 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Biogen during the fourth quarter valued at about $23,022,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Biogen during the fourth quarter valued at about $220,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc. (BIIB) traded up 0.84% during mid-day trading on Monday, reaching $286.05. 786,776 shares of the company’s stock traded hands. The stock has a market capitalization of $60.48 billion, a PE ratio of 18.77 and a beta of 0.79. The stock has a 50-day moving average price of $281.65 and a 200-day moving average price of $274.04. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.23.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the company posted $5.21 earnings per share. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
Several brokerages have recently issued reports on BIIB. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and raised their price target for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target for the company in a research note on Thursday. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Cowen and Company restated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $328.81.
In other Biogen news, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares in the company, valued at $1,622,442.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the 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 of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 in the last quarter. 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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