First American Trust FSB bought a new stake in shares of Biogen Inc (NASDAQ:BIIB) in the 4th quarter, HoldingsChannel reports. The firm bought 10,129 shares of the biotechnology company’s stock, valued at approximately $3,227,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares in the last quarter. Vanguard Group Inc. lifted its stake in Biogen by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares in the last quarter. State Street Corp lifted its stake in Biogen by 1.5% in the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares in the last quarter. FMR LLC lifted its stake in Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Biogen by 8.0% in the 2nd quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after acquiring an additional 223,371 shares in the last quarter. 88.11% of the stock is owned by institutional investors and hedge funds.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $336.72 on Thursday. Biogen Inc has a one year low of $244.28 and a one year high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The firm has a market capitalization of $71,210.00, a PE ratio of 20.65, a PEG ratio of 1.97 and a beta of 0.73.
Several equities research analysts recently issued reports on BIIB shares. Royal Bank of Canada reissued a “hold” rating and issued a $321.00 price objective on shares of Biogen in a research note on Tuesday, December 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $390.00 price objective on shares of Biogen in a research note on Monday, December 18th. SunTrust Banks reissued a “buy” rating and issued a $354.00 price objective on shares of Biogen in a research note on Tuesday, October 24th. Canaccord Genuity started coverage on Biogen in a research note on Friday, October 27th. They issued a “hold” rating and a $340.00 price objective for the company. Finally, BMO Capital Markets raised Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price objective for the company in a research note on Wednesday, October 25th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $350.13.
In related news, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction dated Friday, December 29th. The shares were acquired at an average price of $320.55 per share, with a total value of $250,029.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,922,518.80. The disclosure for this sale can be found here. In the last three months, insiders have bought 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is currently owned by insiders.
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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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