ClariVest Asset Management LLC lessened its position in shares of Biogen Inc (NASDAQ:BIIB) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,035 shares of the biotechnology company’s stock after selling 2,671 shares during the quarter. ClariVest Asset Management LLC’s holdings in Biogen were worth $18,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Boston Advisors LLC raised its stake in shares of Biogen by 2.9% during the 4th quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 31 shares during the period. OLD Second National Bank of Aurora raised its stake in shares of Biogen by 0.4% during the 4th quarter. OLD Second National Bank of Aurora now owns 7,754 shares of the biotechnology company’s stock valued at $2,333,000 after purchasing an additional 33 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Biogen by 0.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,016 shares of the biotechnology company’s stock valued at $3,917,000 after purchasing an additional 39 shares during the period. Watch Point Trust Co raised its stake in shares of Biogen by 0.6% during the 4th quarter. Watch Point Trust Co now owns 6,549 shares of the biotechnology company’s stock valued at $1,971,000 after purchasing an additional 41 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Biogen by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 534 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 42 shares during the period. 93.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Biogen stock opened at $315.12 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.04 and a current ratio of 2.32. The stock has a market cap of $61.99 billion, a PE ratio of 12.03, a PEG 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.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating the consensus estimate of $6.72 by $0.27. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.26 EPS. Research analysts forecast that Biogen Inc will post 28.67 EPS for the current year.
A number of research firms recently issued reports on BIIB. Cantor Fitzgerald reiterated a “buy” rating and set a $400.00 price objective on shares of Biogen in a research note on Wednesday, December 12th. BidaskClub lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. ValuEngine upgraded Biogen from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. Oppenheimer set a $380.00 price objective on Biogen and gave the company a “buy” rating in a research note on Sunday, October 28th. Finally, BTIG Research assumed coverage on Biogen in a research note on Wednesday, December 26th. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $379.53.
In other news, Director Alexander J. Denner acquired 7,000 shares of Biogen stock in a transaction dated Friday, February 1st. The shares were purchased at an average cost of $328.45 per share, for a total transaction of $2,299,150.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at $3,583,061.05. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction dated Wednesday, January 30th. The shares were purchased at an average price of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the transaction, the director now directly owns 10,909 shares in the company, valued at approximately $3,543,897.74. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.
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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