Princeton Global Asset Management LLC acquired a new stake in shares of Biogen Inc (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 830 shares of the biotechnology company’s stock, valued at approximately $250,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Portfolio Solutions LLC purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $26,000. Doyle Wealth Management purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $32,000. IMS Capital Management purchased a new stake in shares of Biogen in the 3rd quarter valued at approximately $38,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $40,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $41,000. 89.19% of the stock is owned by institutional investors.
BIIB has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $363.00 price target on shares of Biogen in a research note on Tuesday, February 19th. Mizuho set a $427.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, January 29th. Stifel Nicolaus upped their price objective on shares of Biogen from $392.00 to $397.00 and gave the stock a “buy” rating in a report on Tuesday, January 29th. Oppenheimer set a $372.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Friday, January 25th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a report on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $295.04.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.72 by $0.27. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $5.26 EPS. Biogen’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Biogen Inc will post 28.88 earnings per share for the current year.
In other Biogen news, Director Alexander J. Denner acquired 7,000 shares of the 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction on Wednesday, January 30th. The shares were acquired at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the transaction, 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. Company insiders own 0.29% of the company’s stock.
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Biogen Company 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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