First National Bank of Omaha lowered its stake in Biogen Inc (NASDAQ:BIIB) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,786 shares of the biotechnology company’s stock after selling 1,682 shares during the period. First National Bank of Omaha’s holdings in Biogen were worth $5,609,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Sarissa Capital Management LP purchased a new stake in Biogen during the fourth quarter valued at about $87,909,000. Intermede Investment Partners Ltd boosted its stake in Biogen by 1.2% in the third quarter. Intermede Investment Partners Ltd now owns 76,180 shares of the biotechnology company’s stock valued at $23,847,000 after buying an additional 917 shares in the last quarter. Northern Trust Corp boosted its stake in Biogen by 0.4% in the third quarter. Northern Trust Corp now owns 2,978,479 shares of the biotechnology company’s stock valued at $932,354,000 after buying an additional 12,483 shares in the last quarter. Country Trust Bank boosted its stake in Biogen by 7.7% in the third quarter. Country Trust Bank now owns 89,404 shares of the biotechnology company’s stock valued at $27,986,000 after buying an additional 6,360 shares in the last quarter. Finally, Cohen Lawrence B boosted its stake in Biogen by 15.6% in the third quarter. Cohen Lawrence B now owns 6,795 shares of the biotechnology company’s stock valued at $2,127,000 after buying an additional 915 shares in the last quarter. 86.97% of the stock is currently owned by institutional investors.
Shares of Biogen Inc (NASDAQ:BIIB) traded up 1.31% during mid-day trading on Thursday, hitting $272.45. 566,840 shares of the company were exchanged. The stock has a market cap of $58.84 billion, a PE ratio of 16.09 and a beta of 0.72. Biogen Inc has a 12-month low of $223.02 and a 12-month high of $333.65. The stock’s 50-day moving average price is $281.23 and its 200 day moving average price is $289.30.
Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.96 by $0.08. Biogen had a return on equity of 38.48% and a net margin of 32.34%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $4.50 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Biogen Inc will post $20.94 EPS for the current fiscal year.
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Several research firms recently issued reports on BIIB. Leerink Swann decreased their target price on shares of Biogen from $300.00 to $290.00 and set a “market perform” rating on the stock in a research report on Monday. Mizuho reissued a “neutral” rating and issued a $290.00 target price on shares of Biogen in a research report on Monday, April 3rd. Credit Suisse Group AG set a $296.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report on Saturday, February 11th. BMO Capital Markets set a $336.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report on Sunday, January 8th. Finally, Jefferies Group LLC set a $289.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and an average target price of $326.64.
In other news, CEO Michel Vounatsos purchased 1,333 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average price of $285.39 per share, with a total value of $380,424.87. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul J. Clancy sold 9,891 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $291.55, for a total value of $2,883,721.05. Following the completion of the sale, the vice president now directly owns 20,705 shares of the company’s stock, valued at approximately $6,036,542.75. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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