Bainco International Investors increased its position in Biogen Inc. (NASDAQ:BIIB) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,671 shares of the biotechnology company’s stock after acquiring an additional 790 shares during the period. Bainco International Investors’ holdings in Biogen were worth $5,846,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIIB. Pathstone Family Office LLC purchased a new position in Biogen in the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. raised its stake in Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Atlantic Trust LLC purchased a new stake in Biogen during the 2nd quarter valued at $114,000. Independent Portfolio Consultants Inc. raised its stake in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares during the last quarter. Institutional investors own 87.76% of the company’s stock.
BIIB has been the subject of a number of research reports. Citigroup Inc. lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research note on Wednesday, August 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 12th. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a research note on Friday, August 25th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research note on Tuesday, October 17th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and an average target price of $341.89.
Shares of Biogen Inc. (NASDAQ BIIB) traded down $0.77 during trading hours on Friday, hitting $309.19. 299,022 shares of the company were exchanged, compared to its average volume of 1,490,000. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market cap of $65,050.00, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $5.19 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. equities research analysts predict that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.
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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