Rex Capital Advisors LLC Buys Shares of 744 Biogen Inc. (NASDAQ:BIIB)
Rex Capital Advisors LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 744 shares of the biotechnology company’s stock, valued at approximately $203,000.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Biogen during the fourth quarter worth approximately $603,929,000. Massachusetts Financial Services Co. MA raised its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Biogen during the first quarter worth approximately $98,187,000. Vanguard Group Inc. raised its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after buying an additional 294,308 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ BIIB) opened at 281.44 on Friday. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $307.76. The company’s 50-day moving average is $269.15 and its 200-day moving average is $273.86. The firm has a market capitalization of $59.70 billion, a P/E ratio of 17.63 and a beta of 0.78.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.97 by $0.23. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Biogen had a net margin of 30.17% and a return on equity of 38.17%. Biogen’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.79 EPS. On average, analysts predict that Biogen Inc. will post $20.44 EPS for the current year.
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BIIB has been the topic of a number of research reports. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $310.17 target price on the stock in a research report on Monday, March 27th. Barclays PLC reissued an “overweight” rating and set a $360.00 price objective (down from $380.00) on shares of Biogen in a report on Sunday, April 23rd. Stifel Nicolaus lifted their price objective on shares of Biogen from $265.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $310.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Thirteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average target price of $325.48.
In other Biogen news, Director Alexander J. Denner purchased 73,858 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was purchased at an average price of $278.50 per share, for a total transaction of $20,569,453.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul J. Clancy sold 9,892 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $290.00, for a total transaction of $2,868,680.00. Following the sale, the vice president now owns 10,813 shares of the company’s stock, valued at approximately $3,135,770. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,734 shares of company stock valued at $5,357,550. 0.32% of the stock is owned by company insiders.
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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