Biogen Inc (NASDAQ:BIIB) Shares Bought by Private Advisor Group LLC

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Private Advisor Group LLC boosted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 5,106 shares of the biotechnology company’s stock after acquiring an additional 103 shares during the period. Private Advisor Group LLC’s holdings in Biogen were worth $1,212,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BIIB. Portfolio Solutions LLC acquired a new position in shares of Biogen during the 4th quarter worth $26,000. Northwest Wealth Management LLC lifted its position in shares of Biogen by 188.9% in the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Doyle Wealth Management acquired a new position in shares of Biogen in the fourth quarter valued at $32,000. Resources Investment Advisors Inc. lifted its position in Biogen by 500.0% during the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Private Ocean LLC bought a new position in shares of Biogen in the first quarter worth about $31,000. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BIIB stock opened at $231.26 on Friday. The firm has a market capitalization of $44.68 billion, a P/E ratio of 8.83, a PEG ratio of 0.93 and a beta of 0.95. Biogen Inc has a twelve month low of $216.12 and a twelve month high of $388.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.60 and a current ratio of 2.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.10. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.05 earnings per share. As a group, equities analysts anticipate that Biogen Inc will post 29.57 earnings per share for the current fiscal year.

A number of research firms have weighed in on BIIB. HC Wainwright reissued a “buy” rating and set a $363.00 target price on shares of Biogen in a research report on Tuesday, February 19th. BidaskClub cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. Nomura dropped their price objective on Biogen from $420.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Oppenheimer set a $290.00 target price on Biogen and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Standpoint Research raised Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Biogen currently has an average rating of “Hold” and a consensus price target of $283.23.

In other news, CEO Michel Vounatsos purchased 4,351 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander J. Denner bought 50,342 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was bought at an average price of $229.25 per share, with a total value of $11,540,903.50. Following the acquisition, the director now owns 10,909 shares in the company, valued at approximately $2,500,888.25. The disclosure for this purchase can be found here. Over the last three months, insiders bought 173,035 shares of company stock worth $39,759,632. Insiders own 0.29% of the company’s stock.

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Biogen Company Profile

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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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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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