The Manufacturers Life Insurance Company reduced its stake in shares of Biogen Inc. (NASDAQ: BIIB – Get the Badge) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,521 shares of the biotechnology company’s stock after selling 2,313 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Biogen worth $43,069,000 at the end of the most recent period.
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Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.6% in the first quarter. Now owned by Vanguard Group Inc. 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after buying an additional 183,285 shares during the period. State Street Corp raised its holdings in Biogen by 2.8% in the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after purchasing an additional 197,400 shares during the last quarter. Northern Trust Corp lifted its position in Biogen by 1.4% in the second quarter. Northern Trust Corp now owns 1,709,577 shares of the biotechnology company’s stock worth $348,651,000 after buying an additional 24,050 shares during the last quarter. Deutsche Bank AG grew its holdings in Biogen by 15.8% in the second quarter. Deutsche Bank AG now owns 1,666,899 shares of the biotechnology company’s stock valued at $339,947,000 after purchasing an additional 227,008 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Biogen by 48.1% in the second quarter. Renaissance Technologies LLC now owns 1,546,007 shares of the biotechnology company’s stock worth $315,293,000 after acquiring an additional 501,800 shares during the last quarter. 84.40% of the stock is held by hedge funds and other institutional investors.
Insiders Order their Bets
In other Biogen news, EVP Susan H. Alexander sold 5,532 shares of the business’s stock in a transaction on Thursday, October 27th. The stock traded at an average price of $280.70, for a total price of $1,552,832.40. Following the transaction, the executive vice president now owns 39,396 shares of the company’s stock, valued at $11,058,457.20. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. In related news, EVP Ginger Gregory sold 5,610 shares of Biogen stock in a transaction that occurred on Monday, November 14th. The stock traded at an average price of $300.11, for a total price of $1,683,617.10. Following the purchase, the executive vice president now directly owns 5,711 shares in the company, valued at $1,713,928.21. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 5,532 shares of the company’s stock in a transaction dated Thursday, October 27th. The shares traded at an average price of $280.70, for a total transaction of $1,552,832.40. Following the transaction, the executive vice president now directly owns 39,396 shares in the company, valued at $11,058,457.20. Notification is available for this purchase here. Insiders own 0.65% of the company’s stock.
The BIIB has been the subject of many analyst reports. Wedbush lifted their price target on shares of Biogen from $218.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 30th. Guggenheim upped their target price on shares of Biogen from $265.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, November 11th. UBS Group raised their price target on Biogen from $238.00 to $309.00 and gave the company a “buy” rating in a report on Thursday, October 6th. Morgan Stanley increased their price target on Biogen from $321.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company increased their price target on shares of Biogen from $265.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, September. 28th Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a hold rating. a strong selling point in the company. According to MarketBeat, Biogen has a rating of “Moderate Buy” and a target price of $305.75.
Biogen Trading Rises 2.0%
Share of BIIB shares opened at $285.77 on Friday. The company has a market capitalization of $41.15 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.80 and a beta of 0.23. Biogen Inc. it has a 1 year low of $187.16 and a 1 year high of $311.88. The company’s fifty day moving average is $288.37 and its 200 day moving average is $251.45. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 0.49.
Biogen (NASDAQ: BIIB – Get the Badge) last announced its earnings data on Tuesday, October 25th. The biotechnology company reported $4.77 EPS for the quarter, beating analysts’ consensus estimates of $4.13 by $0.64. Biogen has a 27.64% profit margin and 21.31%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ estimates of $2.47 billion. In the same quarter last year, the business posted $4.77 earnings per share. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Biogen Inc. the 17.03 EPS for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapeutics for the treatment of inflammatory and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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