Seizert Capital Partners LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,191 shares of the biotechnology company’s stock after buying an additional 5,900 shares during the period. Seizert Capital Partners LLC’s holdings in Biogen were worth $29,308,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Biogen during the fourth quarter valued at $603,929,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Biogen during the fourth quarter valued at $179,141,000. Renaissance Technologies LLC raised its position in shares of Biogen by 196.9% in the fourth quarter. Renaissance Technologies LLC now owns 707,495 shares of the biotechnology company’s stock valued at $200,631,000 after buying an additional 469,234 shares during the last quarter. Discovery Capital Management LLC CT raised its position in shares of Biogen by 418.8% in the fourth quarter. Discovery Capital Management LLC CT now owns 504,765 shares of the biotechnology company’s stock valued at $143,141,000 after buying an additional 407,465 shares during the last quarter. Finally, Sarissa Capital Management LP bought a new position in shares of Biogen during the fourth quarter valued at $87,909,000. 87.39% of the stock is currently owned by institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) opened at 279.81 on Tuesday. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65. The company’s 50-day moving average is $256.84 and its 200 day moving average is $275.20. The firm has a market capitalization of $59.35 billion, a P/E ratio of 17.53 and a beta of 0.83.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the firm earned $4.79 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Biogen Inc. will post $20.46 EPS for the current fiscal year.
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A number of equities analysts recently commented on the stock. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $369.00 to $305.00 in a research report on Thursday, March 16th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $310.17 price target on the stock in a research report on Monday, March 27th. Barclays PLC reaffirmed an “overweight” rating and set a $360.00 price target (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Leerink Swann lowered shares of Biogen from an “outperform” rating to a “market perform” rating and set a $300.00 price target on the stock. in a research report on Thursday, March 16th. Finally, Stifel Nicolaus raised their price target on shares of Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $329.94.
In related news, VP Paul J. Clancy sold 9,892 shares of Biogen stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $290.00, for a total transaction of $2,868,680.00. Following the sale, the vice president now owns 10,813 shares of the company’s stock, valued at approximately $3,135,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Alfred Sandrock sold 1,981 shares of Biogen stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $274.08, for a total value of $542,952.48. Following the sale, the chief marketing officer now directly owns 7,060 shares in the company, valued at approximately $1,935,004.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,957 shares of company stock worth $3,689,473 in the last three months. 0.32% of the stock is owned by corporate insiders.
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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