Nomura Asset Management Co. Ltd. Sells 730 Shares of Biogen Inc. (BIIB)
Nomura Asset Management Co. Ltd. lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 65,048 shares of the biotechnology company’s stock after selling 730 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Biogen were worth $17,784,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of BIIB. Pathstone Family Office LLC purchased a new position in shares of Biogen during the first quarter worth about $102,000. Crestwood Advisors Group LLC purchased a new position in shares of Biogen during the first quarter worth about $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 about $164,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Biogen Inc. (NASDAQ BIIB) traded down 0.10% during trading on Wednesday, reaching $288.96. 267,327 shares of the company traded hands. The firm has a market capitalization of $61.10 billion, a price-to-earnings ratio of 18.96 and a beta of 0.79. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.83. The company’s 50-day moving average price is $278.73 and its 200 day moving average price is $273.77.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the company earned $5.21 EPS. Biogen’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
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A number of research analysts have recently issued reports on the stock. UBS AG restated a “neutral” rating and issued a $285.00 price target (up previously from $270.00) on shares of Biogen in a research report on Wednesday, July 26th. Sanford C. Bernstein restated an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a research report on Wednesday, June 21st. Deutsche Bank AG restated a “buy” rating and issued a $319.00 price target (up previously from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Monday, May 15th. 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’s stock. The stock has a consensus rating of “Buy” and an average target price of $329.74.
In related news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction dated Wednesday, July 19th. The stock was 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 directly owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock valued at $3,931,380 over the last quarter. 0.32% of the stock is owned by corporate 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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