State Board of Administration of Florida Retirement System raised its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 292,059 shares of the biotechnology company’s stock after purchasing an additional 676 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Biogen were worth $84,767,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BIIB. Rainier Group Investment Advisory LLC purchased a new stake in shares of Biogen during the first quarter worth about $100,000. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Biogen during the first quarter worth about $105,000. Certified Advisory Corp grew its holdings in shares of Biogen by 445.2% during the first quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock worth $108,000 after buying an additional 325 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Biogen during the first quarter worth about $110,000. Finally, Adviser Investments LLC grew its holdings in shares of Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after buying an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.
A number of equities research analysts have recently commented on BIIB shares. Credit Suisse Group set a $384.00 price target on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 17th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down from $375.00) on shares of Biogen in a report on Tuesday, April 24th. Mizuho set a $433.00 price target on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Cowen reissued a “buy” rating and issued a $408.00 target price on shares of Biogen in a research report on Tuesday, April 24th. Finally, Piper Jaffray Companies decreased their target price on shares of Biogen and set an “overweight” rating on the stock in a research report on Tuesday, April 24th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $374.50.
Shares of Biogen opened at $343.00 on Friday, Marketbeat.com reports. The company has a market cap of $69.88 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.58. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. Biogen’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.04 earnings per share. equities research analysts anticipate that Biogen Inc will post 25.35 earnings per share for the current fiscal year.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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