Renaissance Group LLC lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 112,261 shares of the biotechnology company’s stock after selling 6,530 shares during the quarter. Biogen accounts for approximately 1.2% of Renaissance Group LLC’s holdings, making the stock its 23rd largest holding. Renaissance Group LLC’s holdings in Biogen were worth $35,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BIIB. Caxton Associates LP raised its position in Biogen by 25.0% during the second quarter. Caxton Associates LP now owns 1,500 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 300 shares in the last quarter. Linscomb & Williams Inc. raised its position in Biogen by 2.5% during the second quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 29 shares in the last quarter. Cypress Capital Group purchased a new position in Biogen during the second quarter valued at approximately $209,000. Intellectus Partners LLC raised its position in Biogen by 13.4% during the second quarter. Intellectus Partners LLC now owns 1,409 shares of the biotechnology company’s stock valued at $382,000 after acquiring an additional 167 shares in the last quarter. Finally, BB&T Investment Services Inc. purchased a new position in Biogen during the second quarter valued at approximately $237,000. 88.11% of the stock is owned by institutional investors and hedge funds.

Biogen Inc (BIIB) opened at $312.77 on Friday. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $370.57. The company has a market capitalization of $69,157.73, a price-to-earnings ratio of 26.16, a PEG ratio of 1.70 and a beta of 0.75. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $5.04 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. sell-side analysts expect that Biogen Inc will post 24.88 earnings per share for the current year.

BIIB has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $363.00 price target (up from $340.00) on shares of Biogen in a research report on Friday, January 26th. Citigroup reiterated an “outperform” rating and set a $380.00 price target (up from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a research report on Thursday, January 18th. Jefferies Group restated a “hold” rating on shares of Biogen in a research report on Friday, January 26th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $279.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. Eight research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $368.99.

In other news, CEO Michel Vounatsos acquired 780 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were purchased at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the acquisition, the chief executive officer now owns 4,879 shares of the company’s stock, valued at $1,563,963.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. Insiders purchased a total of 31,560 shares of company stock worth $10,020,858 in the last quarter. Company insiders own 0.25% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Biogen Inc (BIIB) Holdings Trimmed by Renaissance Group LLC” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.thecerbatgem.com/2018/02/09/biogen-inc-biib-holdings-trimmed-by-renaissance-group-llc.html.

About Biogen

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).

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)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.