IFP Advisors Inc decreased its stake in Biogen Inc (NASDAQ:BIIB) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,481 shares of the biotechnology company’s stock after selling 309 shares during the period. IFP Advisors Inc’s holdings in Biogen were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC raised its position in Biogen by 13.2% during the 1st quarter. Global X Management Co. LLC now owns 5,014 shares of the biotechnology company’s stock worth $1,373,000 after buying an additional 586 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Biogen by 11.6% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 429,995 shares of the biotechnology company’s stock valued at $117,741,000 after purchasing an additional 44,786 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Biogen by 31.7% during the 1st quarter. FDx Advisors Inc. now owns 6,046 shares of the biotechnology company’s stock valued at $1,656,000 after purchasing an additional 1,455 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Biogen by 20.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,575 shares of the biotechnology company’s stock valued at $2,622,000 after purchasing an additional 1,625 shares in the last quarter. Finally, D.B. Root & Company LLC purchased a new position in shares of Biogen during the 1st quarter valued at approximately $467,000. Institutional investors own 89.41% of the company’s stock.

Several equities analysts have recently weighed in on BIIB shares. Citigroup raised shares of Biogen from a “neutral” rating to a “buy” rating and set a $371.00 target price for the company in a report on Friday, July 6th. Morgan Stanley cut their target price on shares of Biogen from $369.00 to $366.00 and set an “overweight” rating for the company in a report on Friday, July 13th. Piper Jaffray Companies lifted their target price on shares of Biogen to $365.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Cantor Fitzgerald set a $293.00 target price on shares of Biogen and gave the company a “hold” rating in a report on Wednesday, July 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $423.00 target price on shares of Biogen in a report on Tuesday, July 24th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $374.50.

Biogen stock opened at $342.33 on Friday. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67. The firm has a market capitalization of $69.49 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company earned $5.04 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts forecast that Biogen Inc will post 25.34 EPS for the current year.

About Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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