Wolverine Asset Management LLC grew its position in shares of Biogen Inc (NASDAQ:BIIB) by 27.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,350 shares of the biotechnology company’s stock after acquiring an additional 500 shares during the quarter. Wolverine Asset Management LLC’s holdings in Biogen were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prentiss Smith & Co. Inc. bought a new stake in Biogen during the fourth quarter worth $123,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock worth $127,000 after buying an additional 174 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in Biogen during the third quarter worth $128,000. Massey Quick Simon & CO. LLC grew its holdings in Biogen by 84.8% during the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after buying an additional 195 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Biogen during the fourth quarter worth $133,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.
In other news, EVP Alfred Sandrock sold 259 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the transaction, the executive vice president now owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Vounatsos purchased 780 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. Following the transaction, the chief executive officer now directly owns 4,879 shares in the company, valued at $1,563,963.45. The disclosure for this purchase can be found here. Insiders have sold a total of 8,128 shares of company stock worth $2,601,512 in the last ninety days. Insiders own 0.25% of the company’s stock.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned $5.04 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. sell-side analysts forecast that Biogen Inc will post 24.87 earnings per share for the current fiscal year.
BIIB has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $363.00 price target (up previously from $340.00) on shares of Biogen in a report on Friday, January 26th. BidaskClub downgraded Biogen from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Citigroup reiterated an “outperform” rating and set a $380.00 price target (up previously from $350.00) on shares of Biogen in a report on Tuesday, January 16th. Mizuho set a $400.00 price target on Biogen and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Jefferies Group reiterated a “hold” rating on shares of Biogen in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the stock. Biogen presently has an average rating of “Buy” and an average target price of $370.07.
Biogen Company Profile
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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