ADAMCAPITAL Gestao de Recursos Ltda. acquired a new position in shares of Biogen Inc (NASDAQ:BIIB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 93,843 shares of the biotechnology company’s stock, valued at approximately $29,896,000. Biogen accounts for about 1.7% of ADAMCAPITAL Gestao de Recursos Ltda.’s holdings, making the stock its 14th biggest holding.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Xact Kapitalforvaltning AB boosted its stake in Biogen by 9.1% during the fourth quarter. Xact Kapitalforvaltning AB now owns 44,104 shares of the biotechnology company’s stock worth $14,050,000 after buying an additional 3,684 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Biogen by 3.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 59,911 shares of the biotechnology company’s stock valued at $19,086,000 after purchasing an additional 2,246 shares during the period. CNB Bank purchased a new stake in shares of Biogen during the fourth quarter valued at $398,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Biogen by 32.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 160,230 shares of the biotechnology company’s stock valued at $51,044,000 after purchasing an additional 39,136 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Biogen during the fourth quarter valued at $261,000. 88.90% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on BIIB. BMO Capital Markets reissued a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a research note on Thursday, February 8th. Canaccord Genuity boosted their target price on shares of Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Oppenheimer boosted their target price on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Mizuho reissued a “buy” rating and set a $433.00 target price (up from $400.00) on shares of Biogen in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $370.07.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.04 earnings per share. equities analysts predict that Biogen Inc will post 24.87 EPS for the current fiscal year.
In other Biogen news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at $1,905,808.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The disclosure for this sale can be found here. Insiders sold 8,128 shares of company stock valued at $2,601,512 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
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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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