Bogart Wealth LLC bought a new position in shares of Biogen Inc (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 803 shares of the biotechnology company’s stock, valued at approximately $189,000.
Several other hedge funds have also bought and sold shares of the stock. Boston Advisors LLC lifted its position in shares of Biogen by 2.9% during the 4th quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 31 shares during the period. OLD Second National Bank of Aurora lifted its position in shares of Biogen by 0.4% during the 4th quarter. OLD Second National Bank of Aurora now owns 7,754 shares of the biotechnology company’s stock valued at $2,333,000 after acquiring an additional 33 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Biogen by 0.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,016 shares of the biotechnology company’s stock valued at $3,917,000 after acquiring an additional 39 shares during the period. Cigna Investments Inc. New lifted its position in shares of Biogen by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 8,396 shares of the biotechnology company’s stock valued at $2,526,000 after acquiring an additional 39 shares during the period. Finally, Watch Point Trust Co lifted its position in shares of Biogen by 0.6% during the 4th quarter. Watch Point Trust Co now owns 6,549 shares of the biotechnology company’s stock valued at $1,971,000 after acquiring an additional 41 shares during the period. 89.19% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Alexander J. Denner purchased 30,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were acquired at an average price of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the acquisition, the director now owns 10,909 shares in the company, valued at $3,543,897.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $328.55, for a total value of $2,008,754.70. Following the completion of the transaction, the director now owns 24,701 shares in the company, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, topping the consensus estimate of $6.72 by $0.27. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the firm posted $5.26 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Biogen Inc will post 28.81 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Raymond James assumed coverage on Biogen in a research report on Wednesday, April 10th. They set a “market perform” rating for the company. TheStreet downgraded Biogen from a “b-” rating to a “c+” rating in a research report on Thursday, April 4th. Cantor Fitzgerald reiterated a “hold” rating and set a $250.00 target price on shares of Biogen in a research report on Wednesday, March 27th. Royal Bank of Canada cut their target price on Biogen to $236.00 and set a “sector perform” rating for the company in a research report on Monday, March 25th. Finally, HC Wainwright restated a “buy” rating and set a $300.00 price objective (down from $363.00) on shares of Biogen in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the stock. Biogen has an average rating of “Hold” and an average price target of $295.04.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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