Biogen Inc. (NASDAQ:BIIB) Stake Maintained by Pensionfund Sabic
Pensionfund Sabic maintained its position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The institutional investor owned 7,700 shares of the biotechnology company’s stock at the end of the second quarter. Pensionfund Sabic’s holdings in Biogen were worth $2,089,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathstone Family Office LLC purchased a new position in shares of Biogen during the first quarter worth approximately $102,000. Crestwood Advisors Group LLC purchased a new position in shares of Biogen during the first quarter worth approximately $106,000. Winfield Associates Inc. increased its position in shares of 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 period. Rational Advisors LLC increased its position in shares of Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock worth $162,000 after buying an additional 74 shares during the period. Finally, Stelac Advisory Services LLC purchased a new position in shares of Biogen during the first quarter worth approximately $164,000. 88.70% of the stock is owned by institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) traded down 0.18% during midday trading on Wednesday, hitting $288.73. 267,514 shares of the company traded hands. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.83. The stock has a 50 day moving average of $278.73 and a 200-day moving average of $273.77. The stock has a market capitalization of $61.05 billion, a PE ratio of 18.95 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $5.21 earnings per share. Equities analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on BIIB. UBS AG raised shares of Biogen from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $262.00 to $270.00 in a research report on Monday, June 19th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective for the company. 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. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $328.00 price objective (up previously from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Biogen presently has a consensus rating of “Buy” and a consensus price target of $329.74.
In related news, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the sale, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 over the last ninety days. 0.32% of the stock is currently owned by 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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