HL Financial Services LLC Grows Holdings in Biogen Inc. (BIIB)
HL Financial Services LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 10.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,927 shares of the biotechnology company’s stock after acquiring an additional 465 shares during the period. HL Financial Services LLC’s holdings in Biogen were worth $1,543,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new stake in shares of Biogen during the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. raised its stake in shares of Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Biogen during the 2nd quarter worth approximately $114,000. Independent Portfolio Consultants Inc. raised its stake in shares of Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Oppenheimer Holdings, Inc. assumed coverage on Biogen in a research note on Thursday. They set an “outperform” rating and a $350.00 price objective on the stock. BMO Capital Markets increased their price target on Biogen from $381.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Canaccord Genuity assumed coverage on Biogen in a research note on Friday, October 27th. They issued a “hold” rating and a $340.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $340.00 price target on shares of Biogen in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada decreased their price objective on Biogen from $315.00 to $313.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $341.89.
Biogen Inc. (NASDAQ BIIB) traded up $0.48 during trading on Friday, reaching $310.44. The company had a trading volume of 820,700 shares, compared to its average volume of 1,616,859. Biogen Inc. has a twelve month low of $244.28 and a twelve month 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. The stock has a market capitalization of $65,650.92, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the business earned $5.19 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. equities research analysts predict that Biogen Inc. will post 22.03 EPS for the current 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).
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