Ostrum Asset Management Takes $714,000 Position in Biogen Inc (BIIB)

Ostrum Asset Management bought a new position in Biogen Inc (NASDAQ:BIIB) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 2,610 shares of the biotechnology company’s stock, valued at approximately $714,000.

Several other institutional investors and hedge funds also recently modified their holdings of BIIB. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter worth about $261,000. Banco de Sabadell S.A acquired a new stake in shares of Biogen during the 4th quarter worth about $7,061,000. Alliancebernstein L.P. increased its position in shares of Biogen by 27.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock worth $1,087,812,000 after purchasing an additional 727,007 shares during the last quarter. Wealthsource Partners LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $217,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Biogen during the 4th quarter worth about $133,000. 87.43% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on BIIB shares. BidaskClub downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. William Blair reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, February 15th. Canaccord Genuity set a $350.00 target price on Biogen and gave the company a “hold” rating in a research report on Thursday, February 15th. Argus downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. Finally, TheStreet downgraded Biogen from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $353.18.

In other Biogen news, Director Alexander J. Denner bought 48,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 25th. The stock was purchased at an average price of $269.91 per share, for a total transaction of $12,955,680.00. Following the completion of the purchase, the director now directly owns 10,029 shares in the company, valued at $2,706,927.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Shares of Biogen opened at $306.91 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.23 and a quick ratio of 2.95. The stock has a market capitalization of $64.71 billion, a PE ratio of 14.07, a P/E/G ratio of 1.80 and a beta of 0.84. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $370.57.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.12. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Biogen had a return on equity of 37.64% and a net margin of 23.54%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.20 EPS. sell-side analysts expect that Biogen Inc will post 23.85 EPS for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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