First Allied Advisory Services Inc. Acquires 119 Shares of Biogen Inc (BIIB)

First Allied Advisory Services Inc. lifted its holdings in Biogen Inc (NASDAQ:BIIB) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,658 shares of the biotechnology company’s stock after purchasing an additional 119 shares during the period. First Allied Advisory Services Inc.’s holdings in Biogen were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BTIM Corp. lifted its holdings in Biogen by 132.0% in the 4th quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock worth $1,822,000 after buying an additional 3,445 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of Biogen by 4.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock worth $40,691,000 after buying an additional 5,587 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Biogen by 34.3% in the fourth quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock worth $32,028,000 after buying an additional 27,164 shares in the last quarter. Smith Asset Management Group LP lifted its position in shares of Biogen by 31.5% in the fourth quarter. Smith Asset Management Group LP now owns 115,491 shares of the biotechnology company’s stock worth $34,872,000 after buying an additional 27,672 shares in the last quarter. Finally, Triangle Securities Wealth Management lifted its position in shares of Biogen by 0.9% in the first quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock worth $1,610,000 after buying an additional 60 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Shares of NASDAQ:BIIB opened at $229.18 on Wednesday. Biogen Inc has a 52-week low of $216.12 and a 52-week high of $388.67. The company has a market capitalization of $43.75 billion, a P/E ratio of 8.75, a PEG ratio of 0.89 and a beta of 1.01. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $6.05 earnings per share. Biogen’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Biogen Inc will post 29.58 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the company. Argus reiterated a “hold” rating on shares of Biogen in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated a “hold” rating and issued a $250.00 target price on shares of Biogen in a research report on Wednesday, March 27th. Atlantic Securities cut Biogen from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 21st. UBS Group cut Biogen from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $395.00 to $242.00 in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. cut Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 price objective on the stock. in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $288.96.

In related news, 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 transaction, the director now owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michel Vounatsos acquired 4,351 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $231.48 per share, for a total transaction of $1,007,169.48. The disclosure for this purchase can be found here. In the last three months, insiders purchased 173,035 shares of company stock worth $39,759,632. 0.29% of the stock is owned by insiders.

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About Biogen

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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