First Trust Advisors LP lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 51.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,160 shares of the biotechnology company’s stock after buying an additional 75,195 shares during the period. First Trust Advisors LP owned approximately 0.11% of Biogen worth $69,563,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in BIIB. BlackRock Inc. lifted its position in Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after purchasing an additional 415,099 shares during the period. Vanguard Group Inc. lifted its position in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after purchasing an additional 182,337 shares during the period. State Street Corp lifted its position in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after purchasing an additional 140,929 shares during the period. Clearbridge Investments LLC lifted its position in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, FMR LLC increased its holdings in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after buying an additional 561,436 shares in the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
Biogen Inc. (BIIB) opened at $310.44 on Friday. Biogen Inc. has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market cap of $65,650.92, 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 posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the firm earned $5.19 EPS. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts forecast that Biogen Inc. will post 22.03 earnings per share for the current year.
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A number of brokerages have issued reports on BIIB. Vetr cut shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $318.00 target price on shares of Biogen in a report on Tuesday, July 18th. Leerink Swann reaffirmed a “market perform” rating and issued a $338.00 target price (up from $304.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Twelve research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average 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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