Oakbrook Investments LLC Reduces Position in Biogen Inc (BIIB)

Oakbrook Investments LLC lowered its position in Biogen Inc (NASDAQ:BIIB) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,535 shares of the biotechnology company’s stock after selling 1,435 shares during the period. Biogen accounts for 1.0% of Oakbrook Investments LLC’s portfolio, making the stock its 26th largest holding. Oakbrook Investments LLC’s holdings in Biogen were worth $16,418,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BIIB. Janus Henderson Group PLC increased its holdings in Biogen by 4,585.3% in the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after buying an additional 1,414,707 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Biogen by 35.1% in the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares during the last quarter. FMR LLC increased its holdings in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Biogen by 24.0% in the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after buying an additional 450,207 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Biogen by 28.8% in the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after buying an additional 426,821 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Several brokerages have commented on BIIB. Bank of America increased their price target on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Friday, January 5th. Canaccord Genuity set a $340.00 price target on Biogen and gave the company a “hold” rating in a report on Friday, January 5th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $390.00 price target on shares of Biogen in a report on Monday, October 23rd. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $353.75.

In other news, Director Alexander J. Denner bought 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of Biogen stock in a transaction that occurred on Friday, December 29th. The stock was purchased at an average cost of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is currently owned by corporate insiders.

Shares of Biogen Inc (NASDAQ:BIIB) traded down $1.76 during trading on Thursday, hitting $343.11. 763,596 shares of the stock traded hands, compared to its average volume of 1,209,927. The firm has a market capitalization of $72,780.00, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. Biogen Inc has a twelve month low of $244.28 and a twelve month high of $348.84.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $5.19 earnings per share. analysts anticipate that Biogen Inc will post 21.99 earnings per share for the current year.

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About Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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