725 Shares in Biogen Inc. (BIIB) Purchased by Edgemoor Investment Advisors Inc.
Edgemoor Investment Advisors Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 725 shares of the biotechnology company’s stock, valued at approximately $227,000.
A number of other large investors have also recently added to or reduced their stakes in BIIB. Janus Henderson Group PLC boosted its position in Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares during the last quarter. Janus Capital Management LLC boosted its position in Biogen by 204.8% during the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Biogen by 563.8% during the 2nd quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock worth $220,986,000 after acquiring an additional 691,694 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after acquiring an additional 600,384 shares during the last quarter. Finally, FMR LLC boosted its position in Biogen by 10.1% during the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on BIIB shares. Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $319.53 price target for the company in a research report on Monday, July 31st. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Goldman Sachs Group Inc upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Robert W. Baird reiterated a “hold” rating and set a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Finally, ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Biogen has an average rating of “Buy” and an average target price of $341.89.
Shares of Biogen Inc. (NASDAQ BIIB) opened at $308.97 on Monday. The stock has a market capitalization of $65,340.05, a price-to-earnings ratio of 14.31, a PEG ratio of 1.93 and a beta of 0.72. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $348.84. 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 (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.19 EPS. research analysts anticipate that Biogen Inc. will post 22.07 earnings per share for the current year.
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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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