Wetherby Asset Management Inc. Has $1.14 Million Stake in Biogen Inc (BIIB)

Wetherby Asset Management Inc. increased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,560 shares of the biotechnology company’s stock after buying an additional 254 shares during the period. Wetherby Asset Management Inc.’s holdings in Biogen were worth $1,135,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Biogen by 77.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 174 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Biogen during the 3rd quarter valued at about $128,000. Massey Quick Simon & CO. LLC grew its position in shares of Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after acquiring an additional 195 shares during the period. Cable Hill Partners LLC grew its position in shares of Biogen by 224.7% during the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after acquiring an additional 337 shares during the period. Finally, Denali Advisors LLC acquired a new stake in shares of Biogen during the 4th quarter valued at about $159,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.

A number of research firms have recently commented on BIIB. Royal Bank of Canada restated a “hold” rating and set a $321.00 target price on shares of Biogen in a research report on Tuesday, December 5th. Nomura raised their price target on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. William Blair reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Mizuho set a $400.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average price target of $368.99.

Biogen Inc (NASDAQ BIIB) opened at $291.87 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $370.57. The firm has a market cap of $61,748.80, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business earned $5.04 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. sell-side analysts predict that Biogen Inc will post 24.88 earnings per share for the current fiscal year.

In other news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the sale, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. Insiders acquired a total of 31,560 shares of company stock worth $10,020,858 over the last three months. Corporate insiders own 0.25% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Wetherby Asset Management Inc. Has $1.14 Million Stake in Biogen Inc (BIIB)” was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://www.thelincolnianonline.com/2018/02/19/wetherby-asset-management-inc-has-1-14-million-stake-in-biogen-inc-biib.html.

About Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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Wetherby Asset Management Inc. Has $1.14 Million Stake in Biogen Inc (BIIB)

Wetherby Asset Management Inc. grew its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,560 shares of the biotechnology company’s stock after purchasing an additional 254 shares during the period. Wetherby Asset Management Inc.’s holdings in Biogen were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Girard Partners LTD. lifted its holdings in shares of Biogen by 16.6% during the 3rd quarter. Girard Partners LTD. now owns 1,125 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 160 shares during the last quarter. IFC Holdings Incorporated FL lifted its holdings in shares of Biogen by 4.1% during the 4th quarter. IFC Holdings Incorporated FL now owns 4,050 shares of the biotechnology company’s stock valued at $1,293,000 after purchasing an additional 160 shares during the last quarter. Cue Financial Group Inc. increased its position in shares of Biogen by 11.3% in the 4th quarter. Cue Financial Group Inc. now owns 1,628 shares of the biotechnology company’s stock valued at $519,000 after acquiring an additional 165 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Biogen by 77.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 174 shares during the period. Finally, Rosenbaum Jay D. increased its position in shares of Biogen by 9.1% in the 3rd quarter. Rosenbaum Jay D. now owns 2,104 shares of the biotechnology company’s stock valued at $659,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 89.20% of the company’s stock.

In other Biogen news, CEO Michel Vounatsos bought 780 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. Following the transaction, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at $1,563,963.45. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander J. Denner bought 30,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,560 shares of company stock worth $10,020,858 over the last ninety days. 0.25% of the stock is owned by insiders.

Shares of Biogen Inc (NASDAQ:BIIB) opened at $291.87 on Monday. The firm has a market capitalization of $61,748.80, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34. Biogen Inc has a 12-month low of $244.28 and a 12-month high of $370.57.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.18). The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. Biogen’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.04 earnings per share. equities analysts anticipate that Biogen Inc will post 24.88 earnings per share for the current fiscal year.

BIIB has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $363.00 target price (up from $340.00) on shares of Biogen in a research report on Friday, January 26th. Citigroup reissued an “outperform” rating and issued a $380.00 target price (up from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Mizuho set a $400.00 target price on Biogen and gave the company a “buy” rating in a research report on Thursday, January 18th. Jefferies Group reissued a “hold” rating on shares of Biogen in a research report on Friday, January 26th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $279.00 target price on shares of Biogen in a research report on Tuesday, October 24th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and a consensus target price of $368.99.

TRADEMARK VIOLATION NOTICE: “Wetherby Asset Management Inc. Has $1.14 Million Stake in Biogen Inc (BIIB)” was originally reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://www.thelincolnianonline.com/2018/02/19/wetherby-asset-management-inc-has-1-14-million-stake-in-biogen-inc-biib.html.

Biogen 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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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