Quadrant Private Wealth Management LLC acquired a new position in shares of Biogen Inc (NASDAQ:BIIB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 631 shares of the biotechnology company’s stock, valued at approximately $200,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stralem & Co. Inc. acquired a new stake in Biogen in the first quarter worth $32,000. Solstein Capital LLC purchased a new position in shares of Biogen in the fourth quarter worth about $34,000. Covington Capital Management increased its stake in shares of Biogen by 53.8% in the fourth quarter. Covington Capital Management now owns 120 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 42 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Biogen in the first quarter worth about $41,000. Finally, Samalin Investment Counsel LLC purchased a new position in Biogen during the fourth quarter valued at approximately $39,000. Institutional investors own 90.73% of the company’s stock.
Shares of NASDAQ:BIIB traded down $2.16 during midday trading on Friday, reaching $302.30. The company’s stock had a trading volume of 8,270 shares, compared to its average volume of 1,540,559. The firm has a 50 day moving average of $312.87 and a 200-day moving average of $303.33. The firm has a market capitalization of $49.68 billion, a P/E ratio of 9.40, a PEG ratio of 0.67 and a beta of 0.54. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.39. Biogen Inc has a 12-month low of $215.77 and a 12-month high of $374.99.
Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.73 by $1.41. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.41 billion. Biogen had a net margin of 40.76% and a return on equity of 49.22%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.98 EPS. On average, research analysts predict that Biogen Inc will post 33.13 EPS for the current year.
In other Biogen news, Director Stephen A. Sherwin sold 2,434 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $295.22, for a total transaction of $718,565.48. Following the sale, the director now owns 16,517 shares in the company, valued at approximately $4,876,148.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
BIIB has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Biogen from $302.00 to $301.00 and set an “underweight” rating for the company in a research note on Thursday, April 23rd. BidaskClub cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Thursday. Wedbush cut their price target on shares of Biogen from $306.00 to $295.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. HC Wainwright reissued a “buy” rating and issued a $335.00 price target on shares of Biogen in a research note on Thursday, February 6th. Finally, SunTrust Banks cut their price target on shares of Biogen from $360.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the stock. Biogen presently has an average rating of “Hold” and a consensus price target of $317.46.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
Read More: Pattern Day Trader – What is the PDT Rule?
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).
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.