ING Groep NV decreased its position in Biogen Inc. (NASDAQ:BIIB) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,877 shares of the biotechnology company’s stock after selling 1,904 shares during the quarter. ING Groep NV’s holdings in Biogen were worth $18,122,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Prentiss Smith & Co. Inc. grew its holdings in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the period. Atlantic Trust LLC purchased a new stake in shares of Biogen during the 2nd quarter worth about $114,000. Independent Portfolio Consultants Inc. grew its holdings 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 purchasing an additional 219 shares during the period. Massey Quick Simon & CO. LLC grew its holdings 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 purchasing an additional 195 shares during the period. Finally, Carroll Financial Associates Inc. grew its holdings in shares of Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.
Biogen Inc. (NASDAQ BIIB) opened at $319.57 on Friday. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84. The stock has a market capitalization of $67,470.00, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 2.00 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $5.19 EPS. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. equities research analysts anticipate that Biogen Inc. will post 22.03 earnings per share for the current year.
A number of analysts have recently issued reports on BIIB shares. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price for the company in a report on Thursday, August 10th. Goldman Sachs Group upgraded 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. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Mizuho reiterated a “neutral” rating and set a $319.00 target price (up previously from $274.00) on shares of Biogen in a report on Wednesday, September 13th. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $344.60.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.
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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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