Intact Investment Management Inc. Sells 200 Shares of Biogen Inc (BIIB)

Intact Investment Management Inc. cut its stake in shares of Biogen Inc (NASDAQ:BIIB) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,200 shares of the biotechnology company’s stock after selling 200 shares during the period. Intact Investment Management Inc.’s holdings in Biogen were worth $424,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Biogen by 0.7% during the second quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock worth $839,536,000 after purchasing an additional 19,730 shares during the period. Bank of New York Mellon Corp increased its stake in Biogen by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock worth $685,588,000 after acquiring an additional 72,668 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Biogen by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock worth $608,054,000 after acquiring an additional 18,790 shares during the period. Morgan Stanley increased its stake in Biogen by 61.1% during the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock worth $508,240,000 after acquiring an additional 664,096 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Biogen by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,595,986 shares of the biotechnology company’s stock worth $463,220,000 after acquiring an additional 30,353 shares during the period. 87.74% of the stock is owned by hedge funds and other institutional investors.

BIIB has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of Biogen in a research note on Monday, October 1st. Oppenheimer set a $400.00 price objective on Biogen and gave the stock a “buy” rating in a research note on Sunday, September 16th. BidaskClub upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Citigroup lowered their price objective on Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Finally, Morgan Stanley lowered their price objective on Biogen from $369.00 to $366.00 and set an “overweight” rating on the stock in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $383.01.



In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

NASDAQ BIIB opened at $306.28 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67. The firm has a market cap of $60.48 billion, a P/E ratio of 12.28, a PEG ratio of 1.19 and a beta of 0.86.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $6.31 EPS. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts forecast that Biogen Inc will post 25.58 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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