Stansberry Asset Management LLC acquired a new position in Biogen Inc (NASDAQ:BIIB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 8,212 shares of the biotechnology company’s stock, valued at approximately $2,616,000. Biogen makes up about 1.1% of Stansberry Asset Management LLC’s portfolio, making the stock its 26th biggest holding.
Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Biogen by 77.0% in 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 during the last quarter. Horan Capital Advisors LLC. purchased a new position in Biogen during the third quarter valued at approximately $128,000. Massey Quick Simon & CO. LLC lifted 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 valued at $133,000 after purchasing an additional 195 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in Biogen during the fourth quarter valued at approximately $133,000. Finally, Patten Group Inc. lifted its holdings in Biogen by 4,308.7% during the third quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 19,906 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $291.29 on Tuesday. Biogen Inc has a 1 year low of $244.28 and a 1 year high of $370.57. The firm has a market cap of $61,630.00, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07.
Several equities analysts have weighed in on BIIB shares. Oppenheimer set a $350.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Monday, December 4th. Sanford C. Bernstein set a $318.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, November 28th. Cowen reaffirmed a “buy” rating and set a $338.00 price target on shares of Biogen in a report on Monday, November 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $385.00 price target on shares of Biogen in a report on Monday, November 27th. Finally, JPMorgan Chase & Co. set a $378.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $368.99.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michel Vounatsos purchased 780 shares of Biogen stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,563,963.45. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 31,560 shares of company stock worth $10,020,858 and sold 7,869 shares worth $2,526,187. Insiders own 0.25% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3225971/stansberry-asset-management-llc-acquires-shares-of-8212-biogen-inc-biib.html.
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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.