Toronto Dominion Bank grew its holdings in shares of Biogen (NASDAQ:BIIB) by 60.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,158 shares of the biotechnology company’s stock after acquiring an additional 42,964 shares during the period. Toronto Dominion Bank owned about 0.05% of Biogen worth $31,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Biogen during the 4th quarter valued at $504,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Biogen during the 4th quarter valued at $261,000. Banco de Sabadell S.A bought a new stake in shares of Biogen during the 4th quarter valued at $7,061,000. Alliancebernstein L.P. boosted its holdings in Biogen by 27.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock worth $1,087,812,000 after buying an additional 727,007 shares during the period. Finally, Wealthsource Partners LLC bought a new position in Biogen in the 4th quarter worth $217,000. 87.31% of the stock is owned by hedge funds and other institutional investors.
Biogen opened at $284.41 on Friday, according to Marketbeat.com. Biogen has a 52 week low of $244.28 and a 52 week high of $370.57. The stock has a market cap of $59.87 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.66 and a beta of 0.84. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 EPS for the quarter, beating the consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.20 EPS. sell-side analysts forecast that Biogen will post 23.9 EPS for the current fiscal year.
Several brokerages recently weighed in on BIIB. Oppenheimer set a $375.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. ValuEngine raised shares of Biogen from a “sell” rating to a “hold” rating in a report on Saturday, May 12th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Biogen in a report on Thursday, April 26th. Leerink Swann set a $325.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Wednesday, April 25th. Finally, Mizuho set a $433.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Eleven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Biogen has an average rating of “Buy” and an average price target of $353.71.
In other news, EVP Alfred Sandrock sold 259 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total transaction of $75,324.97. Following the sale, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,905,808.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Denner bought 48,000 shares of the firm’s stock in a transaction dated Wednesday, April 25th. The shares were acquired at an average price of $269.91 per share, for a total transaction of $12,955,680.00. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $2,706,927.39. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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