Russell Investments Group Ltd. bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 233,489 shares of the biotechnology company’s stock, valued at approximately $67,011,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. raised its stake in shares of Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares during the last quarter. Winfield Associates Inc. raised its stake in shares of Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares during the last quarter. Balentine LLC raised its stake in shares of Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 384 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares during the last quarter. 86.97% of the stock is currently owned by institutional investors.
Biogen Inc. (NASDAQ:BIIB) opened at 285.14 on Wednesday. The stock has a 50 day moving average of $281.25 and a 200 day moving average of $297.39. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The stock has a market cap of $61.58 billion, a P/E ratio of 16.84 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.96 by $0.08. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The company earned $2.87 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm posted $4.50 EPS. Biogen’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Biogen Inc. will post $20.98 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on BIIB. Credit Suisse Group set a $314.00 price target on shares of Biogen and gave the company a “hold” rating in a research report on Tuesday, January 24th. Piper Jaffray Companies raised shares of Biogen from a “neutral” rating to an “overweight” rating and set a $335.00 price target for the company in a research report on Monday, November 7th. They noted that the move was a valuation call. BMO Capital Markets reissued a “market perform” rating and set a $331.00 price target (up from $294.00) on shares of Biogen in a research report on Sunday, December 4th. Leerink Swann raised shares of Biogen from a “market perform” rating to an “outperform” rating in a research report on Monday, November 7th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Biogen in a research report on Friday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Biogen presently has a consensus rating of “Buy” and an average price target of $331.69.
In other news, Director Robert W. Pangia sold 5,450 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $295.39, for a total transaction of $1,609,875.50. Following the sale, the director now owns 22,078 shares of the company’s stock, valued at approximately $6,521,620.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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