James Investment Research Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 102 shares of the biotechnology company’s stock, valued at approximately $28,000.
A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Biogen by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,914,973 shares of the biotechnology company’s stock worth $3,181,298,000 after purchasing an additional 54,951 shares in the last quarter. State Street Corp increased its position in shares of Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Biogen by 268.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,677,982 shares of the biotechnology company’s stock worth $448,021,000 after purchasing an additional 1,222,182 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Biogen by 48.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,534,515 shares of the biotechnology company’s stock worth $409,717,000 after purchasing an additional 503,584 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Biogen by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 1,455,970 shares of the biotechnology company’s stock worth $296,931,000 after purchasing an additional 15,609 shares in the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $325.00 price objective on shares of Biogen in a report on Thursday, March 23rd. Needham & Company LLC restated a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research report on Tuesday. UBS Group raised their price objective on shares of Biogen from $337.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. TheStreet cut shares of Biogen from a “b” rating to a “c+” rating in a research report on Wednesday, February 15th. Finally, Cowen raised their price objective on shares of Biogen from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $318.68.
Biogen Price Performance
Biogen (NASDAQ:BIIB – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.57. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm posted $3.39 EPS. The business’s revenue was down 6.9% on a year-over-year basis. Sell-side analysts predict that Biogen Inc. will post 15.53 EPS for the current fiscal year.
Insiders Place Their Bets
In other Biogen news, insider Priya Singhal sold 91 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $277.11, for a total transaction of $25,217.01. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $787,823.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.
Biogen Profile
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.
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