Biogen Inc. (BIIB) Position Boosted by New Amsterdam Partners LLC NY
New Amsterdam Partners LLC NY increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,471 shares of the biotechnology company’s stock after buying an additional 11 shares during the period. New Amsterdam Partners LLC NY’s holdings in Biogen were worth $399,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Traynor Capital Management Inc. boosted its stake in shares of Biogen by 35.8% in the second quarter. Traynor Capital Management Inc. now owns 5,045 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 1,329 shares in the last quarter. National Planning Corp boosted its stake in shares of Biogen by 34.5% in the second quarter. National Planning Corp now owns 1,219 shares of the biotechnology company’s stock worth $332,000 after buying an additional 313 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new stake in shares of Biogen during the second quarter worth $814,000. Stearns Financial Services Group boosted its stake in shares of Biogen by 20.8% in the second quarter. Stearns Financial Services Group now owns 1,004 shares of the biotechnology company’s stock worth $272,000 after buying an additional 173 shares in the last quarter. Finally, Carnick & Kubik Group LLC boosted its stake in shares of Biogen by 31.6% in the second quarter. Carnick & Kubik Group LLC now owns 5,214 shares of the biotechnology company’s stock worth $1,415,000 after buying an additional 1,252 shares in the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.
Shares of Biogen Inc. (NASDAQ BIIB) opened at 303.75 on Thursday. The stock has a market cap of $64.22 billion, a P/E ratio of 19.93 and a beta of 0.79. The company has a 50-day moving average of $284.39 and a 200 day moving average of $274.87. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $305.49.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.21 EPS. Equities research analysts forecast that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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A number of brokerages have weighed in on BIIB. Vetr cut 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 report on Tuesday. Robert W. Baird reiterated a “hold” rating and set a $290.00 price target on shares of Biogen in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a report on Wednesday, August 16th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Eleven 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 stock has a consensus rating of “Buy” and an average price target of $328.81.
In related news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is 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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