Fort Washington Investment Advisors Inc. OH lessened its stake in shares of Biogen Inc (NASDAQ:BIIB) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 416,558 shares of the biotechnology company’s stock after selling 23,174 shares during the quarter. Biogen comprises about 1.5% of Fort Washington Investment Advisors Inc. OH’s investment portfolio, making the stock its 14th biggest holding. Fort Washington Investment Advisors Inc. OH owned 0.21% of Biogen worth $125,351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of BIIB. IMS Capital Management acquired a new position in Biogen in the third quarter worth approximately $38,000. Jackson Grant Investment Advisers Inc. acquired a new position in Biogen in the fourth quarter worth approximately $40,000. Moody National Bank Trust Division acquired a new position in Biogen in the fourth quarter worth approximately $41,000. Patriot Financial Group Insurance Agency LLC grew its position in Biogen by 257.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 200 shares of the biotechnology company’s stock worth $60,000 after buying an additional 144 shares during the last quarter. Finally, CWM LLC grew its position in Biogen by 112.3% in the fourth quarter. CWM LLC now owns 276 shares of the biotechnology company’s stock worth $83,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 93.97% of the company’s stock.
Several research analysts have issued reports on the stock. Leerink Swann set a $340.00 price target on shares of Biogen and gave the stock a “hold” rating in a research report on Wednesday, October 24th. BidaskClub upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Oppenheimer set a $380.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Sunday, October 28th. Mizuho set a $427.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, Sanford C. Bernstein lowered shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $373.00 to $341.00 in a research report on Friday, October 19th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $379.53.
In related news, Director Alexander J. Denner bought 7,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was bought at an average price of $328.45 per share, with a total value of $2,299,150.00. Following the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $3,583,061.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were bought at an average cost of $324.86 per share, with a total value of $9,745,800.00. Following the purchase, the director now directly owns 10,909 shares in the company, valued at $3,543,897.74. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.
Shares of NASDAQ:BIIB opened at $315.12 on Monday. The firm has a market cap of $61.99 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.13. Biogen Inc has a 12-month low of $249.17 and a 12-month high of $388.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.27. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $5.26 EPS. Equities analysts forecast that Biogen Inc will post 28.67 EPS for the current fiscal year.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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