Saratoga Research & Investment Management increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 141,509 shares of the biotechnology company’s stock after purchasing an additional 3,947 shares during the quarter. Biogen accounts for 3.1% of Saratoga Research & Investment Management’s holdings, making the stock its 13th biggest holding. Saratoga Research & Investment Management owned approximately 0.07% of Biogen worth $44,309,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of BIIB. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the 1st quarter worth $102,000. Prentiss Smith & Co. Inc. increased its holdings in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the period. Atlantic Trust LLC acquired a new position in shares of Biogen in the second quarter valued at about $114,000. Independent Portfolio Consultants Inc. increased its holdings in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the period. Finally, Winfield Associates Inc. increased its holdings in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 67 shares during the period. Institutional investors own 87.76% of the company’s stock.
Shares of Biogen Inc. (NASDAQ BIIB) opened at $310.44 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84. The company has a market capitalization of $65,549.38, a PE ratio of 14.36, a PEG ratio of 1.94 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the firm earned $5.19 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. research analysts forecast that Biogen Inc. will post 22.03 EPS for the current fiscal year.
A number of brokerages have recently weighed in on BIIB. Oppenheimer Holdings, Inc. began coverage on Biogen in a research note on Thursday. They issued an “outperform” rating and a $350.00 target price on the stock. BMO Capital Markets upped their target price on Biogen from $381.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Canaccord Genuity initiated coverage on 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 reiterated 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 lowered their price target on Biogen from $315.00 to $313.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 25th. Twelve equities 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. The stock currently has an average rating of “Buy” and a consensus target price of $341.89.
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Biogen Company Profile
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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