Catawba Capital Management VA Maintains Stake in Biogen Inc. (NASDAQ:BIIB)
Catawba Capital Management VA continued to hold its position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the SEC. The firm owned 860 shares of the biotechnology company’s stock at the end of the second quarter. Catawba Capital Management VA’s holdings in Biogen were worth $233,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Independent Portfolio Consultants Inc. boosted its position 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 valued at $123,000 after buying an additional 219 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Biogen by 68.5% in the first quarter. Parsons Capital Management Inc. RI now owns 1,463 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 595 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after buying an additional 351,224 shares in the last quarter. TrueNorth Inc. acquired a new position in shares of Biogen during the first quarter valued at about $1,209,000. Finally, Laurel Wealth Advisors Inc. boosted its position in shares of Biogen by 15.6% in the first quarter. Laurel Wealth Advisors Inc. now owns 1,080 shares of the biotechnology company’s stock valued at $295,000 after buying an additional 146 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
Biogen Inc. (BIIB) traded down 1.69% during midday trading on Thursday, hitting $283.86. 363,177 shares of the stock traded hands. The firm’s 50 day moving average is $281.33 and its 200-day moving average is $273.88. The stock has a market capitalization of $60.02 billion, a PE ratio of 18.63 and a beta of 0.79. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $329.83.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping 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 analysts’ expectations of $2.81 billion. During the same quarter last year, the business earned $5.21 earnings per share. Biogen’s revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $328.00 target price (up from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price on the stock. in a research report on Wednesday, July 26th. Cowen and Company reissued a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Stifel Nicolaus lifted their target price on shares of Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and a consensus target price of $329.74.
In related news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 in the last 90 days. 0.32% of the stock is owned by company 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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