ADAMCAPITAL Gestao de Recursos Ltda. Invests $29.90 Million in Biogen Inc (BIIB) Stock
ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in Biogen Inc (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 93,843 shares of the biotechnology company’s stock, valued at approximately $29,896,000. Biogen comprises about 1.7% of ADAMCAPITAL Gestao de Recursos Ltda.’s holdings, making the stock its 14th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new stake in Biogen in the fourth quarter valued at approximately $504,000. Cubist Systematic Strategies LLC boosted its position in Biogen by 151.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock valued at $3,333,000 after buying an additional 6,409 shares during the last quarter. CHICAGO TRUST Co NA purchased a new stake in Biogen in the fourth quarter valued at approximately $740,000. Beech Hill Advisors Inc. boosted its position in Biogen by 35.2% in the 4th quarter. Beech Hill Advisors Inc. now owns 1,987 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 517 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Biogen in the 3rd quarter worth approximately $1,154,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.
In other news, CEO Michel Vounatsos acquired 780 shares of Biogen stock in a transaction that occurred on Friday, December 29th. The stock was purchased at an average cost of $320.55 per share, with a total value of $250,029.00. Following the purchase, the chief executive officer now owns 4,879 shares in the company, valued at $1,563,963.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alfred Sandrock sold 1,294 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $298.85, for a total value of $386,711.90. Following the completion of the transaction, the executive vice president now directly owns 7,296 shares of the company’s stock, valued at $2,180,409.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,128 shares of company stock valued at $2,601,512. 0.25% of the stock is owned by corporate insiders.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company posted $5.04 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities analysts predict that Biogen Inc will post 24.87 earnings per share for the current year.
Several equities research analysts have commented on the company. Royal Bank of Canada restated a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research report on Tuesday, December 5th. Nomura upped their price objective on Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. William Blair restated a “buy” rating on shares of Biogen in a research report on Thursday, February 15th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Finally, SunTrust Banks upped their price objective on Biogen to $392.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $370.07.
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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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