Nationwide Fund Advisors lowered its position in Biogen Inc. (NASDAQ:BIIB) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 204,103 shares of the biotechnology company’s stock after selling 11,818 shares during the period. Nationwide Fund Advisors owned approximately 0.10% of Biogen worth $63,909,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Carroll Financial Associates Inc. grew its position in shares of Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the last quarter. New Amsterdam Partners LLC NY grew its position in shares of Biogen by 0.8% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after buying an additional 11 shares during the last quarter. Alta Capital Management LLC grew its position in shares of Biogen by 0.8% in the 2nd quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock worth $510,000 after buying an additional 15 shares during the last quarter. Bienville Capital Management LLC grew its position in shares of Biogen by 2.2% in the 2nd quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after buying an additional 19 shares during the last quarter. Finally, Forbes J M & Co. LLP grew its position in shares of Biogen by 0.6% in the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after buying an additional 19 shares during the last quarter. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on BIIB. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research report on Wednesday, August 16th. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a research report on Wednesday, July 26th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Biogen in a research report on Wednesday. Leerink Swann reaffirmed a “market perform” rating and issued a $338.00 price objective (up previously from $304.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Twelve 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 stock. The stock has an average rating of “Buy” and an average target price of $341.89.

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Shares of Biogen Inc. (NASDAQ:BIIB) opened at $309.80 on Thursday. The company has a market cap of $65,359.05, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.93 and a beta of 0.72. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $348.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.19 EPS. analysts expect that Biogen Inc. will post 22.03 earnings per share 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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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