Cohen & Steers Inc. purchased a new stake in Biogen Inc (NASDAQ:BIIB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 38,695 shares of the biotechnology company’s stock, valued at approximately $12,116,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Amsterdam Partners LLC NY boosted its stake in Biogen by 0.8% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock valued at $399,000 after purchasing an additional 11 shares during the period. Alta Capital Management LLC boosted its stake in Biogen by 0.8% in the 2nd quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock valued at $510,000 after purchasing an additional 15 shares during the period. Bienville Capital Management LLC raised its holdings in Biogen by 2.2% in the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock valued at $239,000 after acquiring an additional 19 shares in the last quarter. Forbes J M & Co. LLP raised its holdings in Biogen by 0.6% in the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock valued at $846,000 after acquiring an additional 19 shares in the last quarter. Finally, People s United Financial Inc. raised its holdings in Biogen by 1.1% in the 2nd quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock valued at $616,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
In other news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.
Biogen Inc (NASDAQ BIIB) opened at $325.77 on Friday. Biogen Inc has a fifty-two week low of $244.28 and a fifty-two week high of $348.84. 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 company has a market capitalization of $67,581.67, a price-to-earnings ratio of 14.80, a PEG ratio of 1.99 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. Biogen had a return on equity of 40.24% and a net margin of 39.84%. The business 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. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. research analysts expect that Biogen Inc will post 22.03 earnings per share for the current fiscal year.
Several brokerages have weighed in on BIIB. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $321.00 price objective on shares of Biogen in a report on Tuesday, December 5th. Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday, November 13th. Goldman Sachs Group raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a report on Wednesday, August 16th. Vetr cut Biogen from a “buy” rating to a “hold” rating and set a $316.82 price objective for the company. in a report on Monday, September 4th. Finally, Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $375.00 in a report on Thursday, October 5th. Twelve investment 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 company. Biogen currently has a consensus rating of “Buy” and an average target price of $344.60.
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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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