Johnson Investment Counsel Inc. Has $532,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Johnson Investment Counsel Inc. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,055 shares of the biotechnology company’s stock after purchasing an additional 144 shares during the period. Johnson Investment Counsel Inc.’s holdings in Biogen were worth $532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BIIB. Park Avenue Securities LLC acquired a new position in shares of Biogen during the 3rd quarter worth approximately $728,000. Assetmark Inc. lifted its holdings in shares of Biogen by 9.2% during the 3rd quarter. Assetmark Inc. now owns 4,874 shares of the biotechnology company’s stock worth $1,253,000 after acquiring an additional 411 shares during the period. Peregrine Asset Advisers Inc. bought a new stake in shares of Biogen during the 3rd quarter worth approximately $237,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Biogen during the 3rd quarter worth approximately $373,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Biogen by 1.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 38,312 shares of the biotechnology company’s stock worth $9,847,000 after acquiring an additional 694 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BIIB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 price target on shares of Biogen in a report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 price target on shares of Biogen in a report on Tuesday, March 5th. Canaccord Genuity Group cut their price target on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. BMO Capital Markets cut their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, HC Wainwright dropped their price objective on shares of Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $288.46.

View Our Latest Analysis on BIIB

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 463 shares of company stock worth $101,701. 0.60% of the stock is currently owned by company insiders.

Biogen Trading Up 1.7 %

BIIB opened at $225.34 on Tuesday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $211.94 and a 200-day moving average of $230.47. The stock has a market cap of $32.81 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.25 and a beta of -0.01.

Biogen (NASDAQ:BIIBGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company posted $3.40 earnings per share. Biogen’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc. will post 15.59 EPS for the current year.

About Biogen

(Free Report)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.

Further Reading

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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