ADAMCAPITAL Gestao de Recursos Ltda. lowered its holdings in Biogen Inc (NASDAQ:BIIB) by 30.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 125,856 shares of the biotechnology company’s stock after selling 55,267 shares during the quarter. Biogen comprises approximately 1.8% of ADAMCAPITAL Gestao de Recursos Ltda.’s portfolio, making the stock its 16th largest holding. ADAMCAPITAL Gestao de Recursos Ltda.’s holdings in Biogen were worth $36,528,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Biogen by 5.9% in the second quarter. Amalgamated Bank now owns 32,613 shares of the biotechnology company’s stock worth $9,466,000 after acquiring an additional 1,828 shares in the last quarter. World Asset Management Inc increased its position in shares of Biogen by 2.0% in the second quarter. World Asset Management Inc now owns 14,471 shares of the biotechnology company’s stock worth $4,200,000 after acquiring an additional 278 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Biogen by 47.9% in the second quarter. Prospera Financial Services Inc now owns 1,652 shares of the biotechnology company’s stock worth $483,000 after acquiring an additional 535 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO increased its position in shares of Biogen by 25.0% in the second quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 40,000 shares of the biotechnology company’s stock worth $11,610,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Pendal Group Ltd increased its position in shares of Biogen by 5.1% in the second quarter. Pendal Group Ltd now owns 46,799 shares of the biotechnology company’s stock worth $13,583,000 after acquiring an additional 2,273 shares in the last quarter. 87.43% of the stock is owned by institutional investors.
Get Biogen alerts:In related news, Director Alexander J. Denner acquired 48,000 shares of Biogen stock in a transaction on Wednesday, April 25th. The shares were purchased at an average cost of $269.91 per share, for a total transaction of $12,955,680.00. Following the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $2,706,927.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.
NASDAQ BIIB traded up $0.17 during trading hours on Thursday, reaching $358.68. 45,163 shares of the company traded hands, compared to its average volume of 2,001,924. Biogen Inc has a 12 month low of $249.17 and a 12 month high of $370.57. 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 company has a market capitalization of $74.90 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.80.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 EPS for the quarter, beating the Zacks’ consensus estimate of $5.93 by $0.12. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm posted $5.20 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. analysts anticipate that Biogen Inc will post 23.97 EPS for the current year.
BIIB has been the subject of several recent research reports. Barclays lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $395.00 to $295.00 in a research report on Thursday, April 5th. Canaccord Genuity set a $350.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research report on Monday, April 9th. Sanford C. Bernstein set a $318.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, April 10th. Mizuho set a $433.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Wednesday, April 11th. Finally, Credit Suisse Group set a $384.00 price target on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $360.79.
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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