Biogen Inc. (BIIB) Position Raised by Traynor Capital Management Inc.
Traynor Capital Management Inc. increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 35.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,045 shares of the biotechnology company’s stock after buying an additional 1,329 shares during the period. Traynor Capital Management Inc.’s holdings in Biogen were worth $1,442,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC bought a new position in Biogen during the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. increased its position in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Winfield Associates Inc. increased its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares during the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ:BIIB) opened at 303.75 on Thursday. The stock has a 50 day moving average of $284.39 and a 200 day moving average of $274.87. The stock has a market cap of $64.22 billion, a price-to-earnings ratio of 19.93 and a beta of 0.79. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $305.49.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the business earned $5.21 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that Biogen Inc. will post $21.44 earnings per share for the current year.
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Several equities analysts have issued reports on the stock. UBS AG reaffirmed a “neutral” rating and set a $285.00 price objective (up from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price for the company. in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a research report on Wednesday, August 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $319.00 target price (up from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and a consensus price target of $328.81.
In related news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock worth $3,931,380 over the last three months. 0.32% of the stock is owned by company insiders.
Biogen Company Profile
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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