Deane Retirement Strategies Inc. Invests $1.27 Million in Biogen Inc. (NASDAQ:BIIB)
Deane Retirement Strategies Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The firm purchased 4,663 shares of the biotechnology company’s stock, valued at approximately $1,265,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC raised its stake in Biogen by 24.5% in the first quarter. Capital Investment Advisors LLC now owns 945 shares of the biotechnology company’s stock worth $259,000 after buying an additional 186 shares in the last quarter. Cohen Capital Management Inc. purchased a new stake in Biogen during the first quarter worth about $178,000. Farmers & Merchants Investments Inc. raised its stake in Biogen by 31.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 15,671 shares of the biotechnology company’s stock worth $4,285,000 after buying an additional 3,773 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock worth $309,000 after buying an additional 55 shares in the last quarter. Finally, Howland Capital Management LLC purchased a new stake in Biogen during the first quarter worth about $254,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded up 0.90% during mid-day trading on Friday, hitting $283.68. 727,172 shares of the company traded hands. The stock has a market capitalization of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. The company’s 50-day moving average is $281.49 and its 200-day moving average is $273.98. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the business earned $5.21 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts predict that Biogen Inc. will post $21.44 EPS for the current year.
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A number of research firms have recently issued reports on BIIB. BMO Capital Markets restated a “market perform” rating and set a $328.00 price target (up previously from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a report on Wednesday, July 26th. Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Finally, Stifel Nicolaus boosted their price target on shares of Biogen from $265.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $329.74.
In related news, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock valued at $3,931,380 over the last three months. 0.32% of the stock is owned by company insiders.
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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