Daiwa Securities Group Inc. raised its stake in Biogen Inc. (NASDAQ:BIIB) by 25.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,806 shares of the biotechnology company’s stock after acquiring an additional 1,576 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Biogen were worth $2,445,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its holdings in Biogen by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares during the last quarter. Carroll Financial Associates Inc. raised its holdings in Biogen by 1.2% in 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. RMB Capital Management LLC raised its holdings in Biogen by 1.1% in the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 9 shares during the last quarter. New Amsterdam Partners LLC NY raised its holdings in Biogen by 0.8% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock valued at $399,000 after buying an additional 11 shares during the last quarter. Finally, Alta Capital Management LLC raised its holdings in Biogen by 0.8% in the 2nd quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock valued at $510,000 after buying an additional 15 shares during the last quarter. 87.76% of the stock is owned by hedge funds and other institutional investors.

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A number of analysts have weighed in on BIIB shares. Oppenheimer Holdings, Inc. started coverage on shares of Biogen in a research report on Thursday. They set an “outperform” rating and a $350.00 target price for the company. BMO Capital Markets increased their target price on shares of Biogen from $381.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price for the company in a research report on Thursday, August 10th. Cowen and Company reissued a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a research report on Wednesday, August 16th. Twelve research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $341.89.

Shares of Biogen Inc. (NASDAQ BIIB) opened at $310.44 on Friday. The company has a market capitalization of $65,549.38, a price-to-earnings ratio of 14.36, a PEG ratio of 1.94 and a beta of 0.72. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.19 EPS. research analysts predict that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.

Biogen Company Profile

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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