Biogen Inc. (BIIB) Stake Maintained by Comgest Global Investors S.A.S.
Comgest Global Investors S.A.S. maintained its position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,200 shares of the biotechnology company’s stock at the end of the second quarter. Comgest Global Investors S.A.S.’s holdings in Biogen were worth $4,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC purchased a new position in shares of Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. grew its holdings in shares of Biogen by 14.9% during 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. Independent Portfolio Consultants Inc. grew its holdings in shares of Biogen by 93.2% during 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. Winfield Associates Inc. grew its holdings in shares of Biogen by 16.8% during 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. Finally, Carroll Financial Associates Inc. grew its holdings in shares of Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction that occurred 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 approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’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 owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on BIIB. Royal Bank Of Canada began coverage on Biogen in a report on Thursday. They set a “sector perform” rating and a $319.00 price target on the stock. BMO Capital Markets lifted their price objective on Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a report on Wednesday. Mizuho reaffirmed a “neutral” rating and issued a $319.00 price objective (up previously from $274.00) on shares of Biogen in a report on Wednesday. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $346.83 price objective on the stock in a report on Thursday, September 7th. Finally, ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Biogen currently has a consensus rating of “Buy” and an average price target of $331.53.
Shares of Biogen Inc. (BIIB) opened at 321.26 on Friday. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $330.00. The firm has a 50-day moving average of $298.79 and a 200 day moving average of $278.33. The stock has a market capitalization of $67.92 billion, a PE ratio of 21.08 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during 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%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.21 EPS. On average, equities analysts anticipate that Biogen Inc. will post $21.48 earnings per share for the current fiscal year.
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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