Ladenburg Thalmann Financial Services Inc. Buys 544 Shares of Biogen Inc (BIIB)
Ladenburg Thalmann Financial Services Inc. grew its stake in Biogen Inc (NASDAQ:BIIB) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,549 shares of the biotechnology company’s stock after purchasing an additional 544 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Biogen were worth $2,990,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. purchased a new position in shares of Biogen during the 3rd quarter valued at approximately $128,000. Atlantic Trust LLC purchased a new position in shares of Biogen during the 2nd quarter valued at approximately $114,000. Massey Quick Simon & CO. LLC lifted its position in shares of Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares in the last quarter. Cable Hill Partners LLC lifted its position in shares of Biogen by 224.7% during the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after buying an additional 337 shares in the last quarter. Finally, Gs Investments Inc. purchased a new position in shares of Biogen during the 2nd quarter valued at approximately $136,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
In related news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on BIIB shares. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks reiterated a “buy” rating and set a $354.00 target price on shares of Biogen in a research report on Tuesday, October 24th. Canaccord Genuity started coverage on Biogen in a research report on Friday, October 27th. They set a “hold” rating and a $340.00 target price on the stock. Finally, BMO Capital Markets upgraded Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 target price on the stock in a research report on Wednesday, October 25th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $344.60.
Biogen Inc (BIIB) opened at $323.55 on Friday. Biogen Inc has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $69,311.55, a price-to-earnings ratio of 15.18, a P/E/G ratio of 2.05 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating 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 firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company earned $5.19 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. equities analysts predict that Biogen Inc will post 22.03 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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