Mitchell Capital Management Co. Sells 10,208 Shares of Biogen Inc. (BIIB)
Mitchell Capital Management Co. reduced its position in Biogen Inc. (NASDAQ:BIIB) by 32.5% during the second quarter, Holdings Channel reports. The institutional investor owned 21,191 shares of the biotechnology company’s stock after selling 10,208 shares during the period. Mitchell Capital Management Co.’s holdings in Biogen were worth $5,124,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of BIIB. Primecap Management Co. CA raised its stake in shares of Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock worth $4,229,348,000 after buying an additional 436,101 shares in the last quarter. Jackson Square Partners LLC raised its stake in shares of Biogen by 10.7% in the first quarter. Jackson Square Partners LLC now owns 2,809,422 shares of the biotechnology company’s stock worth $806,152,000 after buying an additional 271,970 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock worth $292,847,000 after buying an additional 166,534 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Biogen by 66.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 374,324 shares of the biotechnology company’s stock worth $97,444,000 after buying an additional 149,200 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Biogen during the first quarter worth about $33,233,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc. (NASDAQ:BIIB) traded up 0.40% during mid-day trading on Monday, hitting $291.67. The stock had a trading volume of 1,209,675 shares. The company has a 50-day moving average of $305.97 and a 200-day moving average of $280.96. The firm has a market cap of $63.91 billion, a PE ratio of 17.04 and a beta of 0.95. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the consensus estimate of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the company posted $4.22 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts expect that Biogen Inc. will post $20.08 earnings per share for the current year.
A number of equities analysts recently commented on the company. Vetr downgraded Biogen from a “hold” rating to a “sell” rating and set a $299.76 price objective on the stock. in a research report on Tuesday, August 2nd. Credit Suisse Group AG reiterated a “hold” rating and set a $322.00 price objective on shares of Biogen in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reiterated a “neutral” rating on shares of Biogen in a research report on Wednesday, August 3rd. Morgan Stanley reiterated a “buy” rating and set a $385.00 price objective on shares of Biogen in a research report on Wednesday, August 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $319.00 price objective on shares of Biogen in a research report on Thursday, August 4th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Biogen has an average rating of “Buy” and a consensus price target of $347.34.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the transaction, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at $2,244,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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