Private Trust Co. NA Has $413,000 Position in Biogen Inc (BIIB)
Private Trust Co. NA boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 63.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,299 shares of the biotechnology company’s stock after buying an additional 504 shares during the period. Private Trust Co. NA’s holdings in Biogen were worth $413,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after buying an additional 415,099 shares during the last quarter. Vanguard Group Inc. boosted its stake in Biogen by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after buying an additional 182,337 shares during the last quarter. State Street Corp boosted its stake in Biogen by 1.5% in the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after buying an additional 140,929 shares during the last quarter. FMR LLC boosted its stake in Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Biogen by 8.0% in the 2nd quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after buying an additional 223,371 shares during the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Biogen Inc (NASDAQ BIIB) opened at $338.85 on Wednesday. The company has a market capitalization of $71,660.00, a PE ratio of 20.78, a P/E/G ratio of 1.91 and a beta of 0.73. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc has a twelve month low of $244.28 and a twelve month high of $348.84.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $5.19 EPS. research analysts predict that Biogen Inc will post 21.99 earnings per share for the current year.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 780 shares of the company’s stock in a transaction on Friday, December 29th. The shares were acquired at an average price of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 31,560 shares of company stock worth $10,020,858. Company insiders own 0.25% of the company’s stock.
Several research firms have recently weighed in on BIIB. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Biogen in a research note on Monday, December 18th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research note on Tuesday, December 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $354.00 price objective on shares of Biogen in a research note on Tuesday, October 24th. Nomura lifted their price objective on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Finally, Canaccord Genuity began coverage on Biogen in a research note on Friday, October 27th. They issued a “hold” rating and a $340.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $353.41.
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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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