Boston Common Asset Management LLC trimmed its holdings in Biogen Inc (NASDAQ:BIIB) by 6.8% in the third quarter, Holdings Channel reports. The institutional investor owned 22,523 shares of the biotechnology company’s stock after selling 1,644 shares during the period. Biogen comprises 1.0% of Boston Common Asset Management LLC’s holdings, making the stock its 25th biggest position. Boston Common Asset Management LLC’s holdings in Biogen were worth $7,958,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Biogen by 54.5% during the 1st quarter. Brown Advisory Inc. now owns 12,295 shares of the biotechnology company’s stock worth $3,366,000 after acquiring an additional 4,339 shares during the period. IFM Investors Pty Ltd increased its stake in Biogen by 44.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 9,532 shares of the biotechnology company’s stock worth $2,767,000 after acquiring an additional 2,947 shares during the period. Swedbank increased its stake in Biogen by 49.9% during the 2nd quarter. Swedbank now owns 578,981 shares of the biotechnology company’s stock worth $168,043,000 after acquiring an additional 192,852 shares during the period. Empirical Finance LLC bought a new position in Biogen during the 2nd quarter worth $753,000. Finally, Cullinan Associates Inc. bought a new position in Biogen during the 2nd quarter worth $3,003,000. 87.74% of the stock is owned by institutional investors.
NASDAQ BIIB opened at $312.70 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67. The firm has a market cap of $63.00 billion, a P/E ratio of 14.34, a PEG ratio of 1.24 and a beta of 1.01.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $6.31 EPS. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts forecast that Biogen Inc will post 25.58 earnings per share for the current fiscal year.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.
BIIB has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating on shares of Biogen in a research note on Monday, July 9th. Oppenheimer set a $400.00 price objective on Biogen and gave the stock a “buy” rating in a research note on Sunday, July 8th. Jefferies Financial Group raised their price objective on Biogen to $400.00 and gave the stock a “hold” rating in a research note on Monday, July 9th. UBS Group lowered Biogen from a “buy” rating to a “hold” rating in a research note on Monday, July 9th. Finally, Robert W. Baird lowered Biogen from an “outperform” rating to a “neutral” rating and set a $323.00 price objective on the stock. in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $383.01.
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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