Courier Capital LLC Sells 245 Shares of Biogen Inc. (BIIB)
Courier Capital LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,407 shares of the biotechnology company’s stock after selling 245 shares during the period. Courier Capital LLC’s holdings in Biogen were worth $399,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares in the last quarter. Winfield Associates Inc. boosted its stake in shares of Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares in the last quarter. Balentine LLC boosted its stake in shares of Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 384 shares in the last quarter. Finally, Massey Quick & Co. LLC bought a new stake in shares of Biogen during the fourth quarter worth $142,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) opened at 290.13 on Friday. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The firm has a 50-day moving average price of $281.32 and a 200 day moving average price of $297.30. The firm has a market cap of $62.65 billion, a PE ratio of 17.14 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.96 by $0.08. The company earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Biogen had a return on equity of 38.48% and a net margin of 32.34%. Biogen’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.50 EPS. Equities research analysts forecast that Biogen Inc. will post $20.98 EPS for the current year.
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A number of brokerages have weighed in on BIIB. Credit Suisse Group set a $296.00 price target on Biogen and gave the stock a “hold” rating in a research report on Saturday, February 11th. Citigroup Inc. raised Biogen from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a research report on Tuesday, February 7th. Robert W. Baird reaffirmed a “hold” rating on shares of Biogen in a research report on Tuesday, February 7th. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $295.39 price target for the company. in a research report on Tuesday, February 7th. Finally, Mizuho reaffirmed a “sell” rating on shares of Biogen in a research report on Monday, February 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $331.69.
In other news, Director Robert W. Pangia sold 5,450 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $295.39, for a total value of $1,609,875.50. Following the completion of the transaction, the director now owns 22,078 shares in the company, valued at approximately $6,521,620.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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