Trade Report: Today: Girard Partners LTD. Buys New Position in Biogen Inc. (BIIB)

Today: Girard Partners LTD. Buys New Position in Biogen Inc. (BIIB)

Girard Partners LTD. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the third quarter, Holdings Channel reports. The firm bought 924 shares of the biotechnology company’s stock, valued at approximately $289,000.

A number of other institutional investors also recently made changes to their positions in BIIB. Squarepoint Ops LLC bought a new position in shares of Biogen during the first quarter worth about $1,942,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Biogen by 13.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,790 shares of the biotechnology company’s stock worth $1,768,000 after buying an additional 820 shares in the last quarter. Oak Associates Ltd. OH bought a new position in shares of Biogen during the first quarter worth about $469,000. First Republic Investment Management Inc. raised its position in shares of Biogen by 38.2% in the first quarter. First Republic Investment Management Inc. now owns 49,266 shares of the biotechnology company’s stock worth $12,824,000 after buying an additional 13,609 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in shares of Biogen during the first quarter worth about $712,000. Hedge funds and other institutional investors own 86.43% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) traded down 0.15% on Monday, reaching $304.74. The company had a trading volume of 510,789 shares. The company’s 50-day moving average price is $299.88 and its 200-day moving average price is $287.26. The firm has a market capitalization of $66.30 billion, a price-to-earnings ratio of 17.23 and a beta of 0.75. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.97 by $0.22. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.48 EPS. On average, analysts predict that Biogen Inc. will post $20.22 earnings per share for the current year.

A number of equities analysts recently issued reports on BIIB shares. BMO Capital Markets increased their target price on shares of Biogen from $286.00 to $304.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Leerink Swann raised their price objective on shares of Biogen from $360.00 to $367.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Robert W. Baird restated a “positive” rating and set a $284.00 price objective (up previously from $268.00) on shares of Biogen in a research report on Monday, August 1st. Raymond James Financial Inc. raised their price objective on shares of Biogen from $360.00 to $375.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 2nd. Finally, Standpoint Research lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $338.93.

In other news, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total transaction of $81,728.28. Following the sale, the executive vice president now owns 7,579 shares in the company, valued at approximately $2,364,193.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now owns 19,663 shares in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

About Biogen

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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