BT Investment Management Ltd Takes $11.78 Million Position in Biogen Inc. (BIIB)
BT Investment Management Ltd bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 43,410 shares of the biotechnology company’s stock, valued at approximately $11,780,000.
A number of other institutional investors and hedge funds also recently modified their holdings of BIIB. Waldron LP boosted its holdings in Biogen by 17.0% during the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock worth $826,000 after buying an additional 439 shares during the last quarter. HPM Partners LLC bought a new position in Biogen during the first quarter worth about $483,000. Checchi Capital Advisers LLC boosted its holdings in Biogen by 7.1% during the first quarter. Checchi Capital Advisers LLC now owns 1,912 shares of the biotechnology company’s stock worth $523,000 after buying an additional 127 shares during the last quarter. Elkfork Partners LLC boosted its holdings in Biogen by 210.7% during the first quarter. Elkfork Partners LLC now owns 11,832 shares of the biotechnology company’s stock worth $3,235,000 after buying an additional 8,024 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Biogen by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 2,038,169 shares of the biotechnology company’s stock worth $557,275,000 after buying an additional 17,313 shares during the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.
A number of equities analysts have issued reports on BIIB shares. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price on the stock. in a report on Wednesday, June 21st. Deutsche Bank AG started coverage on Biogen in a report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price on the stock. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $228.00 to $338.00 in a report on Wednesday, July 26th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $328.16.
In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Biogen Inc. (NASDAQ:BIIB) opened at 318.46 on Monday. The firm’s 50 day moving average price is $300.47 and its 200 day moving average price is $278.47. The firm has a market cap of $67.33 billion, a price-to-earnings ratio of 20.90 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00.
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 Zacks’ 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company earned $5.21 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post $21.51 EPS for the current fiscal year.
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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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