First Republic Investment Management Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,859 shares of the biotechnology company’s stock after purchasing an additional 2,215 shares during the period. First Republic Investment Management Inc.’s holdings in Biogen were worth $14,673,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Prentiss Smith & Co. Inc. boosted its position in Biogen by 14.9% during 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 Biogen during the 2nd quarter valued at $114,000. Independent Portfolio Consultants Inc. boosted its position in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the period. Horan Capital Advisors LLC. purchased a new stake in Biogen during the 3rd quarter valued at $128,000. Finally, Massey Quick Simon & CO. LLC boosted its position in Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares during the period. 88.30% of the stock is owned by institutional investors.
Biogen Inc. (NASDAQ BIIB) opened at $319.57 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. The stock has a market cap of $66,543.32, a PE ratio of 14.57, a P/E/G ratio of 1.96 and a beta of 0.73. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $348.84.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $5.19 EPS. analysts anticipate that Biogen Inc. will post 22.03 earnings per share for the current year.
Several equities research analysts have weighed in on BIIB shares. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target for the company. in a research report on Tuesday, August 29th. Cantor Fitzgerald reissued a “hold” rating and set a $279.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Royal Bank Of Canada reissued a “hold” rating and set a $315.00 price target on shares of Biogen in a research report on Thursday, October 5th. Oppenheimer set a $350.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, November 28th. Finally, 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 for the company. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $344.60.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.
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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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