Epoch Investment Partners Inc. raised its stake in shares of Biogen Inc (NASDAQ:BIIB) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,280 shares of the biotechnology company’s stock after acquiring an additional 490 shares during the period. Epoch Investment Partners Inc.’s holdings in Biogen were worth $5,501,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Biogen by 569.5% in the 3rd quarter. Victory Capital Management Inc. now owns 21,423 shares of the biotechnology company’s stock valued at $7,569,000 after buying an additional 18,223 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Biogen by 9.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,842 shares of the biotechnology company’s stock worth $2,064,000 after acquiring an additional 510 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Biogen by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,305 shares of the biotechnology company’s stock worth $10,000,000 after acquiring an additional 282 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Biogen by 294.4% during the 3rd quarter. Systematic Financial Management LP now owns 6,311 shares of the biotechnology company’s stock worth $2,230,000 after acquiring an additional 4,711 shares during the period. Finally, Brighton Jones LLC bought a new position in shares of Biogen during the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 88.14% of the company’s stock.
A number of research firms have recently commented on BIIB. Oppenheimer reduced their price objective on shares of Biogen from $380.00 to $372.00 and set an “outperform” rating for the company in a report on Tuesday, December 18th. ValuEngine cut shares of Biogen from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. BidaskClub cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. BTIG Research began coverage on shares of Biogen in a research report on Thursday, December 20th. They set a “buy” rating and a $362.00 target price for the company. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $400.00 target price on shares of Biogen in a research report on Wednesday, December 12th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $370.28.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.27. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $5.26 EPS. As a group, equities research analysts forecast that Biogen Inc will post 28.68 EPS for the current year.
In related news, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction on Wednesday, January 30th. The stock was purchased at an average price of $324.86 per share, for a total transaction of $9,745,800.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at approximately $3,543,897.74. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexander J. Denner bought 7,000 shares of Biogen stock in a transaction dated Friday, February 1st. The stock was acquired at an average cost of $328.45 per share, for a total transaction of $2,299,150.00. Following the purchase, the director now directly owns 10,909 shares in the company, valued at approximately $3,583,061.05. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.
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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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