Biogen Inc. (BIIB) Holdings Lifted by Norinchukin Bank The
Norinchukin Bank The grew its position in Biogen Inc. (NASDAQ:BIIB) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,814 shares of the biotechnology company’s stock after buying an additional 725 shares during the period. Norinchukin Bank The’s holdings in Biogen were worth $7,005,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Pathstone Family Office LLC bought a new stake in shares of Biogen in the first quarter worth approximately $102,000. Prentiss Smith & Co. Inc. grew its stake in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 50 shares during the period. Independent Portfolio Consultants Inc. grew its stake in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 219 shares during the period. Winfield Associates Inc. grew its stake in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after acquiring an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in shares of Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 6 shares during the period. 87.65% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have recently commented on BIIB shares. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target for the company. in a research note on Tuesday, August 29th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Mizuho cut their target price on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. Cowen and Company restated an “outperform” rating and set a $271.00 target price on shares of Biogen in a research report on Monday, July 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average price target of $328.16.
Biogen Inc. (BIIB) opened at 318.46 on Friday. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.00. The company has a market capitalization of $67.33 billion, a PE ratio of 20.90 and a beta of 0.77. The stock has a 50 day moving average of $300.47 and a 200-day moving average of $278.47.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $5.21 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that Biogen Inc. will post $21.51 earnings per share for the current year.
In related news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by 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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