BB&T Corp trimmed its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,838 shares of the biotechnology company’s stock after selling 143 shares during the period. BB&T Corp’s holdings in Biogen were worth $586,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in BIIB. Atlantic Trust LLC purchased a new position in shares of Biogen during the second quarter valued at approximately $114,000. Horan Capital Advisors LLC. purchased a new position in shares of Biogen during the third quarter valued at approximately $128,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% during the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares during the last quarter. Gs Investments Inc. purchased a new position in shares of Biogen during the second quarter valued at approximately $136,000. Finally, Patten Group Inc. lifted its holdings in shares of Biogen by 4,308.7% during the third quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 19,906 shares during the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.
Several equities research analysts recently weighed in on the stock. SunTrust Banks reissued a “buy” rating and set a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. BMO Capital Markets reissued a “buy” rating on shares of Biogen in a research report on Thursday, January 25th. HC Wainwright reissued a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Wednesday, October 25th. Canaccord Genuity raised their price target on shares of Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. set a $378.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $369.03.
In other Biogen news, CEO Michel Vounatsos purchased 780 shares of the company’s stock in a transaction dated Saturday, December 29th. The shares were acquired at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the purchase, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,563,963.45. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders have bought a total of 31,560 shares of company stock worth $10,020,858 in the last quarter. Corporate insiders own 0.25% of the company’s stock.
Biogen Inc (BIIB) opened at $328.31 on Tuesday. The firm has a market cap of $69,430.00, a price-to-earnings ratio of 27.57, a PEG ratio of 1.80 and a beta of 0.75. Biogen Inc has a one year low of $244.28 and a one year high of $370.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.04 EPS. equities research analysts forecast that Biogen Inc will post 24.77 earnings per share for the current fiscal year.
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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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