First Midwest Bank Trust Division lowered its position in Biogen Inc (NASDAQ:BIIB) by 59.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,200 shares of the biotechnology company’s stock after selling 3,260 shares during the period. First Midwest Bank Trust Division’s holdings in Biogen were worth $662,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of BIIB. IMS Capital Management bought a new position in shares of Biogen in the third quarter valued at approximately $38,000. Moody National Bank Trust Division acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $41,000. Csenge Advisory Group acquired a new stake in shares of Biogen in the third quarter valued at approximately $95,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Biogen in the third quarter valued at approximately $103,000. Finally, LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Biogen in the third quarter valued at approximately $107,000. Institutional investors own 86.77% of the company’s stock.
A number of analysts recently weighed in on BIIB shares. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Royal Bank of Canada lowered their price target on shares of Biogen to $338.00 and set a “sector perform” rating for the company in a report on Monday, November 26th. Oppenheimer lowered their price target on shares of Biogen from $380.00 to $372.00 and set an “outperform” rating for the company in a report on Tuesday, December 18th. ValuEngine lowered shares of Biogen from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. Finally, BTIG Research started coverage on shares of Biogen in a report on Thursday, December 20th. They issued a “buy” rating and a $362.00 price target for the company. Eight analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Biogen currently has an average rating of “Buy” and an average target price of $381.86.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.31 EPS. As a group, equities analysts anticipate that Biogen Inc will post 25.83 earnings per share for the current fiscal year.
Biogen Company 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.
See Also: Federal Reserve
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).
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.