Virtus ETF Advisers LLC Sells 652 Shares of Biogen Inc (BIIB)

Virtus ETF Advisers LLC decreased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 25.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,909 shares of the biotechnology company’s stock after selling 652 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Biogen were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BIIB. IMS Capital Management bought a new position in shares of Biogen in the third quarter valued at about $38,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Biogen in the fourth quarter valued at about $40,000. Moody National Bank Trust Division bought a new position in shares of Biogen in the fourth quarter valued at about $41,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Biogen by 257.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 200 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 144 shares during the period. Finally, CWM LLC raised its position in shares of Biogen by 112.3% in the fourth quarter. CWM LLC now owns 276 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 93.97% of the company’s stock.

Several brokerages have recently weighed in on BIIB. Oppenheimer set a $372.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Friday, January 25th. Mizuho set a $427.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, January 29th. Leerink Swann increased their price objective on shares of Biogen from $328.00 to $341.00 and gave the company a “market perform” rating in a research report on Wednesday, January 30th. Citigroup raised their price target on shares of Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 30th. Finally, Stifel Nicolaus raised their price target on shares of Biogen from $392.00 to $397.00 and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $378.73.

Biogen stock traded up $1.92 during trading hours on Wednesday, reaching $321.35. 287,244 shares of the stock were exchanged, compared to its average volume of 1,334,197. The company has a market capitalization of $62.33 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.06 and a beta of 1.13. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.72 by $0.27. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.26 earnings per share. On average, sell-side analysts expect that Biogen Inc will post 28.67 earnings per share for the current year.

In other news, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction on Wednesday, January 30th. The shares were purchased at an average cost of $324.86 per share, for a total transaction of $9,745,800.00. Following the completion of the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $3,543,897.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexander J. Denner acquired 7,000 shares of Biogen stock in a transaction on Friday, February 1st. The shares were purchased at an average price of $328.45 per share, for a total transaction of $2,299,150.00. Following the completion of the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at $3,583,061.05. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2019/02/13/virtus-etf-advisers-llc-sells-652-shares-of-biogen-inc-biib.html.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating 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.

Read More: How a Back-End Load Mutual Fund Works

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit