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 (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.
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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