Biogen Inc. (BIIB) Shares Bought by Lipe & Dalton
Lipe & Dalton boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,562 shares of the biotechnology company’s stock after purchasing an additional 10 shares during the quarter. Biogen comprises approximately 2.9% of Lipe & Dalton’s holdings, making the stock its 11th largest holding. Lipe & Dalton’s holdings in Biogen were worth $4,494,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BIIB. Waldron LP lifted its stake in Biogen by 17.0% in the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock worth $826,000 after purchasing an additional 439 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Biogen by 29.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 237,731 shares of the biotechnology company’s stock worth $65,000,000 after purchasing an additional 53,500 shares in the last quarter. Canal Capital Management LLC purchased a new stake in Biogen in the 1st quarter worth $415,000. Advisor Partners LLC lifted its stake in Biogen by 4.9% in the 1st quarter. Advisor Partners LLC now owns 4,187 shares of the biotechnology company’s stock worth $1,145,000 after purchasing an additional 195 shares in the last quarter. Finally, Wright Investors Service Inc. lifted its stake in Biogen by 4.0% in the 1st quarter. Wright Investors Service Inc. now owns 2,215 shares of the biotechnology company’s stock worth $606,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
BIIB has been the topic of several research analyst reports. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research note on Tuesday, August 29th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Mizuho decreased their price target on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 31st. Cowen and Company reiterated an “outperform” rating and issued a $271.00 price target on shares of Biogen in a research note on Monday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Twelve analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $329.95.
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Biogen Inc. (NASDAQ:BIIB) opened at 326.54 on Tuesday. The company has a market capitalization of $69.04 billion, a P/E ratio of 21.43 and a beta of 0.77. The firm has a 50-day moving average of $293.63 and a 200-day moving average of $276.83. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.95.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.21 earnings per share. Analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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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