Optima Fund Management LLC Invests $998,000 in Biogen Inc (NASDAQ:BIIB) Stock

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Optima Fund Management LLC purchased a new position in Biogen Inc (NASDAQ:BIIB) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,220 shares of the biotechnology company’s stock, valued at approximately $998,000.

A number of other large investors have also recently bought and sold shares of BIIB. Cigna Investments Inc. New lifted its holdings in Biogen by 0.5% in the fourth quarter. Cigna Investments Inc. New now owns 8,396 shares of the biotechnology company’s stock worth $2,526,000 after acquiring an additional 39 shares during the last quarter. Mosaic Family Wealth LLC lifted its holdings in Biogen by 19.5% in the fourth quarter. Mosaic Family Wealth LLC now owns 263 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 43 shares during the last quarter. BRYN MAWR TRUST Co lifted its holdings in Biogen by 7.2% in the fourth quarter. BRYN MAWR TRUST Co now owns 669 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 45 shares during the last quarter. Dillon & Associates Inc. lifted its holdings in Biogen by 1.6% in the first quarter. Dillon & Associates Inc. now owns 2,866 shares of the biotechnology company’s stock worth $676,000 after acquiring an additional 45 shares during the last quarter. Finally, First Capital Advisors Group LLC. lifted its holdings in Biogen by 4.7% in the fourth quarter. First Capital Advisors Group LLC. now owns 1,024 shares of the biotechnology company’s stock worth $308,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

NASDAQ:BIIB traded down $2.39 during mid-day trading on Friday, hitting $228.87. 26,389 shares of the company’s stock were exchanged, compared to its average volume of 1,493,646. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67. The company has a market cap of $44.37 billion, a PE ratio of 8.77, a P/E/G ratio of 0.93 and a beta of 0.95.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 EPS for the quarter, topping the consensus estimate of $6.88 by $0.10. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $6.05 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Biogen Inc will post 29.57 EPS for the current year.

In other news, Director Alexander J. Denner purchased 118,342 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at $2,508,415.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexander J. Denner purchased 50,342 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average price of $229.25 per share, for a total transaction of $11,540,903.50. Following the transaction, the director now directly owns 10,909 shares in the company, valued at approximately $2,500,888.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 173,035 shares of company stock worth $39,759,632. 0.29% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on BIIB. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the stock from $397.00 to $346.00 in a report on Thursday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $363.00 price objective on shares of Biogen in a research note on Tuesday, February 19th. Oppenheimer dropped their price objective on shares of Biogen from $380.00 to $375.00 and set an “outperform” rating for the company in a research note on Thursday, February 14th. BMO Capital Markets began coverage on shares of Biogen in a research note on Friday, February 22nd. They issued a “market perform” rating and a $322.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $283.23.

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Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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