Biogen Inc (NASDAQ:BIIB) Shares Sold by Fmr LLC

FMR LLC cut its stake in shares of Biogen Inc (NASDAQ:BIIB) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,671,066 shares of the biotechnology company’s stock after selling 651,121 shares during the period. FMR LLC owned approximately 1.87% of Biogen worth $1,104,697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Advisors LLC boosted its stake in shares of Biogen by 2.9% in the fourth quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 31 shares during the period. OLD Second National Bank of Aurora boosted its stake in shares of Biogen by 0.4% in the fourth quarter. OLD Second National Bank of Aurora now owns 7,754 shares of the biotechnology company’s stock valued at $2,333,000 after purchasing an additional 33 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Biogen by 0.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,016 shares of the biotechnology company’s stock valued at $3,917,000 after purchasing an additional 39 shares during the period. Cigna Investments Inc. New boosted its stake in shares of Biogen by 0.5% in the fourth quarter. Cigna Investments Inc. New now owns 8,396 shares of the biotechnology company’s stock valued at $2,526,000 after purchasing an additional 39 shares during the period. Finally, Watch Point Trust Co boosted its stake in shares of Biogen by 0.6% in the fourth quarter. Watch Point Trust Co now owns 6,549 shares of the biotechnology company’s stock valued at $1,971,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 89.19% of the company’s stock.

Shares of Biogen stock traded down $0.79 during trading on Friday, reaching $226.39. The company’s stock had a trading volume of 2,760,973 shares, compared to its average volume of 3,384,604. The stock has a market capitalization of $44.53 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.85 and a beta of 1.04. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.27. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.26 EPS. Analysts anticipate that Biogen Inc will post 28.88 earnings per share for the current year.

A number of brokerages recently issued reports on BIIB. Raymond James assumed coverage on shares of Biogen in a research note on Wednesday, April 10th. They issued a “market perform” rating for the company. TheStreet downgraded shares of Biogen from a “b-” rating to a “c+” rating in a research report on Thursday, April 4th. Cantor Fitzgerald restated a “hold” rating and set a $250.00 price objective on shares of Biogen in a research report on Wednesday, March 27th. Royal Bank of Canada reduced their price objective on shares of 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 previously from $363.00) on shares of Biogen in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $295.04.

In other news, Director Alexander J. Denner acquired 7,000 shares of the company’s stock in a transaction on Friday, February 1st. The shares were bought at an average cost of $328.45 per share, with a total value of $2,299,150.00. Following the purchase, the director now owns 10,909 shares of the company’s stock, valued at approximately $3,583,061.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was purchased at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the purchase, the director now directly owns 10,909 shares in the company, valued at approximately $3,543,897.74. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

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Biogen Profile

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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