Coastline Trust Co acquired a new position in shares of Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 573 shares of the biotechnology company’s stock, valued at approximately $202,000.
Several other hedge funds have also bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Biogen by 0.7% during the second quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock worth $839,536,000 after purchasing an additional 19,730 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Biogen by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock worth $685,588,000 after purchasing an additional 72,668 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Biogen by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock worth $608,054,000 after purchasing an additional 18,790 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Biogen by 61.1% during the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock worth $508,240,000 after purchasing an additional 664,096 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Biogen by 1.9% during the second quarter. Janus Henderson Group PLC now owns 1,595,986 shares of the biotechnology company’s stock worth $463,220,000 after purchasing an additional 30,353 shares during the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
NASDAQ:BIIB opened at $320.41 on Friday. 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 12 month low of $249.17 and a 12 month high of $388.67. The stock has a market capitalization of $68.13 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.31 and a beta of 0.86.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.22 by $0.58. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $5.04 earnings per share. Equities research analysts anticipate that Biogen Inc will post 25.31 EPS for the current fiscal year.
BIIB has been the topic of several analyst reports. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Oppenheimer set a $400.00 target price on Biogen and gave the stock a “buy” rating in a research report on Sunday, July 8th. UBS Group increased their target price on Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, Robert W. Baird lowered Biogen from an “outperform” rating to a “neutral” rating and set a $323.00 target price on the stock. in a research report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $382.89.
In other news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now directly owns 4,281 shares in the company, valued at $1,498,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.
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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