Captrust Financial Advisors Purchases New Position in Biogen Inc. (BIIB)
Captrust Financial Advisors purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,194 shares of the biotechnology company’s stock, valued at approximately $324,000.
A number of other institutional investors also recently added to or reduced their stakes in BIIB. Waldron LP grew its stake in Biogen by 17.0% in the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after acquiring an additional 439 shares during the period. Bbva Compass Bancshares Inc. grew its stake in Biogen by 9.1% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 4,940 shares of the biotechnology company’s stock valued at $1,351,000 after acquiring an additional 411 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Biogen by 1.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 192,118 shares of the biotechnology company’s stock valued at $51,870,000 after acquiring an additional 2,442 shares during the period. Daiwa Securities Group Inc. grew its stake in Biogen by 0.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 25,710 shares of the biotechnology company’s stock valued at $7,030,000 after acquiring an additional 171 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Biogen by 5.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 14,269 shares of the biotechnology company’s stock valued at $3,901,000 after acquiring an additional 787 shares during the period. 87.65% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc. (NASDAQ BIIB) opened at 318.46 on Friday. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00. The firm has a 50-day moving average price of $300.47 and a 200 day moving average price of $278.47. The firm has a market capitalization of $67.33 billion, a P/E ratio of 20.90 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $5.21 EPS. Analysts forecast that Biogen Inc. will post $21.51 EPS for the current year.
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In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $7,761,120. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
BIIB has been the topic of a number of 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 Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Mizuho decreased their price objective on Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a report on Wednesday, May 31st. Cowen and Company restated an “outperform” rating and issued a $271.00 price objective on shares of Biogen in a report on Monday, July 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, June 26th. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $328.16.
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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