IFP Advisors Inc boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 47.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,330 shares of the biotechnology company’s stock after purchasing an additional 1,066 shares during the quarter. IFP Advisors Inc’s holdings in Biogen were worth $1,043,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Interstate Bank boosted its holdings in shares of Biogen by 129.2% in the 1st quarter. First Interstate Bank now owns 887 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 500 shares in the last quarter. Burney Co. raised its position in Biogen by 6.4% during the 1st quarter. Burney Co. now owns 11,065 shares of the biotechnology company’s stock worth $3,025,000 after buying an additional 664 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in Biogen by 1.2% during the 1st quarter. Analyst IMS Investment Management Services Ltd. now owns 8,805 shares of the biotechnology company’s stock worth $2,393,000 after buying an additional 108 shares during the last quarter. Holland Capital Management LLC increased its holdings in shares of Biogen by 38.5% during the 1st quarter. Holland Capital Management LLC now owns 72,601 shares of the biotechnology company’s stock valued at $19,851,000 after purchasing an additional 20,166 shares in the last quarter. Finally, Investment House LLC grew its stake in Biogen by 3.8% in the 1st quarter. Investment House LLC now owns 11,787 shares of the biotechnology company’s stock valued at $3,223,000 after acquiring an additional 433 shares during the period. 88.35% of the stock is currently owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ BIIB) traded up $0.48 during trading on Monday, reaching $310.44. The company’s stock had a trading volume of 820,700 shares, compared to its average volume of 1,519,722. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The firm has a market cap of $65,650.89, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. Biogen’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.19 EPS. sell-side analysts expect that Biogen Inc. will post 22.03 earnings per share for the current year.
A number of research firms recently issued reports on BIIB. Oppenheimer Holdings, Inc. assumed coverage on shares of Biogen in a research note on Thursday. They issued an “outperform” rating and a $350.00 price target on the stock. BMO Capital Markets lifted their target price on shares of Biogen from $381.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Canaccord Genuity assumed coverage on shares of Biogen in a research report on Friday, October 27th. They set a “hold” rating and a $340.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada cut their price target on shares of Biogen from $315.00 to $313.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus target price of $341.89.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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