ACG Wealth Sells 286 Shares of Biogen Inc (BIIB)
ACG Wealth trimmed its holdings in Biogen Inc (NASDAQ:BIIB) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,394 shares of the biotechnology company’s stock after selling 286 shares during the period. ACG Wealth’s holdings in Biogen were worth $2,356,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of BIIB. Ameriprise Financial Inc. lifted its stake in shares of Biogen by 35.1% in the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Biogen by 24.0% in the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after buying an additional 450,207 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Biogen in the third quarter worth $123,494,000. Jackson Square Partners LLC lifted its stake in shares of Biogen by 9.3% in the third quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock worth $704,286,000 after buying an additional 191,526 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Biogen by 61.9% in the third quarter. Schroder Investment Management Group now owns 495,471 shares of the biotechnology company’s stock worth $153,596,000 after buying an additional 189,501 shares during the last quarter. Institutional investors and hedge funds own 87.79% of the company’s stock.
In other Biogen news, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the sale, the director now owns 23,539 shares of the company’s stock, valued at approximately $7,759,631.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were bought at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is owned by insiders.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a return on equity of 38.32% and a net margin of 20.69%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted $5.04 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. research analysts expect that Biogen Inc will post 24.88 earnings per share for the current year.
A number of brokerages have recently weighed in on BIIB. JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a research note on Thursday, February 8th. Canaccord Genuity restated a “hold” rating and issued a $350.00 price objective on shares of Biogen in a research note on Wednesday, February 7th. Oppenheimer boosted their price objective on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Mizuho restated a “buy” rating and issued a $433.00 price objective (up from $400.00) on shares of Biogen in a research note on Sunday, February 4th. Finally, Credit Suisse Group upgraded shares of Biogen to a “buy” rating and set a $384.00 price objective for the company in a research note on Wednesday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Biogen has a consensus rating of “Buy” and an average price target of $368.99.
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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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