Contrarius Investment Management Ltd purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 115,340 shares of the biotechnology company’s stock, valued at approximately $36,115,000. Biogen makes up 2.1% of Contrarius Investment Management Ltd’s holdings, making the stock its 15th biggest holding. Contrarius Investment Management Ltd owned about 0.05% of Biogen as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new stake in shares of Biogen during the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. lifted its stake in shares of Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 50 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Biogen during the 2nd quarter worth approximately $114,000. Massey Quick Simon & CO. LLC lifted its stake in shares of Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after acquiring an additional 195 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. lifted its stake in shares of Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
BIIB has been the subject of a number of research analyst reports. Citigroup lowered Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Mizuho set a $400.00 target price on Biogen and gave the company a “buy” rating in a research report on Monday, November 13th. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research report on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $290.00 target price on shares of Biogen in a research report on Friday, August 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $344.32.
Biogen Inc. (NASDAQ:BIIB) traded down $1.95 during trading on Monday, reaching $317.40. The company’s stock had a trading volume of 908,712 shares, compared to its average volume of 1,489,042. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The stock has a market cap of $67,120.00, a P/E ratio of 14.79, a PEG ratio of 1.99 and a beta of 0.73. Biogen Inc. has a twelve month low of $244.28 and a twelve month high of $348.84.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.19 EPS. analysts expect that Biogen Inc. will post 22.03 EPS for the current fiscal year.
In other news, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.
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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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