Cullinan Associates Inc. grew its holdings in Biogen Inc (NASDAQ:BIIB) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,827 shares of the biotechnology company’s stock after purchasing an additional 1,479 shares during the quarter. Cullinan Associates Inc.’s holdings in Biogen were worth $4,179,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Rainier Group Investment Advisory LLC bought a new position in shares of Biogen during the 1st quarter worth approximately $100,000. Adviser Investments LLC raised its stake in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of Biogen during the 3rd quarter worth approximately $133,000. Private Capital Group LLC raised its stake in shares of Biogen by 1,029.8% during the 1st quarter. Private Capital Group LLC now owns 531 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 484 shares in the last quarter. Finally, Kaizen Advisory LLC raised its stake in shares of Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
A number of research analysts have issued reports on BIIB shares. Citigroup cut their price target on shares of Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Mizuho set a $423.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Friday, June 29th. BidaskClub lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday. Nomura restated a “buy” rating and set a $420.00 price target on shares of Biogen in a research note on Friday, July 6th. Finally, Barclays upped their price target on shares of Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $382.89.
BIIB stock opened at $320.41 on Friday. The firm has a market capitalization of $68.13 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.86. The company has a current ratio of 2.36, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48. Biogen Inc has a 12 month low of $249.17 and a 12 month high of $388.67.
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 business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.04 EPS. On average, research analysts expect that Biogen Inc will post 25.31 EPS for the current fiscal year.
In other news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction 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 corporate insiders.
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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