Rockefeller Financial Services Inc. Acquires 37,169 Shares of Biogen Inc. (BIIB)
Rockefeller Financial Services Inc. raised its stake in Biogen Inc. (NASDAQ:BIIB) by 16.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 262,361 shares of the biotechnology company’s stock after buying an additional 37,169 shares during the period. Biogen accounts for 1.4% of Rockefeller Financial Services Inc.’s holdings, making the stock its 25th largest position. Rockefeller Financial Services Inc. owned 0.12% of Biogen worth $71,195,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Family Office LLC purchased a new position in Biogen during the first quarter worth $102,000. Prentiss Smith & Co. Inc. boosted its position in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in Biogen during the first quarter worth $106,000. Independent Portfolio Consultants Inc. boosted its position in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. boosted its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 282.92 on Friday. The stock has a market capitalization of $60.01 billion, a P/E ratio of 17.72 and a beta of 0.78. The company’s 50-day moving average is $269.15 and its 200 day moving average is $273.86. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $307.76.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.23. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.73 billion. Biogen had a net margin of 30.17% and a return on equity of 38.17%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.79 earnings per share. On average, equities analysts forecast that Biogen Inc. will post $20.44 EPS for the current fiscal year.
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A number of research analysts have weighed in on BIIB shares. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Mizuho cut their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a report on Wednesday, May 31st. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price objective for the company. in a report on Tuesday, April 25th. Cowen and Company reaffirmed an “outperform” rating and issued a $271.00 price objective on shares of Biogen in a report on Monday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, June 26th. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $325.48.
In related news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander J. Denner purchased 73,858 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was bought at an average price of $278.50 per share, with a total value of $20,569,453.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 18,734 shares of company stock valued at $5,357,550. Insiders own 0.32% of the company’s stock.
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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