Tower Research Capital LLC TRC lessened its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253 shares of the biotechnology company’s stock after selling 388 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Biogen were worth $399,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its stake 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 buying an additional 174 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Biogen in the 3rd quarter valued at approximately $128,000. Massey Quick Simon & CO. LLC grew its stake in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares in the last quarter. Patten Group Inc. grew its stake in shares of Biogen by 4,308.7% in the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 19,906 shares in the last quarter. Finally, Cable Hill Partners LLC grew its stake in shares of Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after buying an additional 337 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors.
Biogen Inc (NASDAQ BIIB) opened at $284.81 on Friday. Biogen Inc has a 1-year low of $244.28 and a 1-year high of $370.57. The company has a market capitalization of $60,528.09, a P/E ratio of 23.89, a PEG ratio of 1.49 and a beta of 0.75. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm earned $5.04 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. equities research analysts anticipate that Biogen Inc will post 24.88 EPS for the current year.
BIIB has been the subject of several recent research reports. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Credit Suisse Group raised Biogen from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $321.00 to $385.00 in a research note on Wednesday, December 20th. Oppenheimer set a $350.00 price target on Biogen and gave the company a “buy” rating in a research note on Monday, December 4th. Nomura boosted their price target on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. Finally, Robert W. Baird reissued a “hold” rating on shares of Biogen in a research note on Thursday, January 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $368.99.
In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alfred Sandrock sold 743 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $292.00, for a total value of $216,956.00. Following the completion of the transaction, the executive vice president now owns 6,553 shares of the company’s stock, valued at $1,913,476. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 31,560 shares of company stock valued at $10,020,858 and have sold 7,869 shares valued at $2,526,187. 0.25% of the stock is owned by insiders.
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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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