The Greatmark Investment Partners Inc. Purchases 15 Shares of Biogen Inc. (BIIB)

The Greatmark Investment Partners Inc. Purchases 15 Shares of Biogen Inc. (BIIB)

Greatmark Investment Partners Inc. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 1,305 shares of the biotechnology company’s stock after buying an additional 15 shares during the period. Greatmark Investment Partners Inc.’s holdings in Biogen were worth $409,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC increased its stake in Biogen by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 1,019 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 5 shares during the period. Reilly Financial Advisors LLC boosted its position in shares of Biogen by 0.9% in the third quarter. Reilly Financial Advisors LLC now owns 915 shares of the biotechnology company’s stock valued at $286,000 after buying an additional 8 shares in the last quarter. Buckingham Asset Management LLC boosted its position in shares of Biogen by 1.8% in the second quarter. Buckingham Asset Management LLC now owns 865 shares of the biotechnology company’s stock valued at $209,000 after buying an additional 15 shares in the last quarter. Woodstock Corp boosted its position in shares of Biogen by 0.6% in the third quarter. Woodstock Corp now owns 2,547 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 15 shares in the last quarter. Finally, Heritage Wealth Advisors boosted its position in shares of Biogen by 0.7% in the third quarter. Heritage Wealth Advisors now owns 2,049 shares of the biotechnology company’s stock valued at $642,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 86.35% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) traded up 0.21% on Wednesday, hitting $283.61. The stock had a trading volume of 1,079,736 shares. The firm has a market cap of $61.71 billion, a price-to-earnings ratio of 16.04 and a beta of 0.74. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65. The company’s 50 day moving average price is $288.82 and its 200 day moving average price is $296.22.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, topping the consensus estimate of $4.97 by $0.22. The firm earned $2.96 billion during the quarter, compared to analyst estimates of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.48 EPS. Analysts expect that Biogen Inc. will post $20.18 EPS for the current year.

Several equities analysts have weighed in on the company. Mizuho set a $290.00 price objective on Biogen and gave the company a “hold” rating in a report on Saturday, December 10th. BMO Capital Markets set a $336.00 price objective on Biogen and gave the company a “hold” rating in a report on Sunday, January 8th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Biogen in a report on Wednesday. Jefferies Group reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $293.00 price objective on shares of Biogen in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $336.67.

In related news, Director Robert W. Pangia sold 5,450 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $295.39, for a total value of $1,609,875.50. Following the completion of the transaction, the director now owns 22,078 shares of the company’s stock, valued at approximately $6,521,620.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Biogen Company Profile

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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