Nordea Investment Management AB Increases Position in Biogen Inc. (BIIB)
Nordea Investment Management AB increased its position in Biogen Inc. (NASDAQ:BIIB) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 353,716 shares of the biotechnology company’s stock after purchasing an additional 11,933 shares during the quarter. Nordea Investment Management AB owned approximately 0.17% of Biogen worth $110,756,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Biogen during the 3rd quarter worth about $123,494,000. Botty Investors LLC grew its position in shares of Biogen by 75.0% during the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after buying an additional 4,812 shares during the period. BB&T Securities LLC grew its position in shares of Biogen by 25.0% during the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after buying an additional 2,598 shares during the period. Neuberger Berman Group LLC grew its position in shares of Biogen by 18.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after buying an additional 4,389 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Biogen by 10.5% during the 2nd quarter. Pacer Advisors Inc. now owns 7,028 shares of the biotechnology company’s stock worth $1,907,000 after buying an additional 667 shares during the period. Hedge funds and other institutional investors own 88.28% of the company’s stock.
Several research firms have recently issued reports on BIIB. Goldman Sachs Group Inc upgraded 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. Mizuho restated a “neutral” rating and set a $319.00 target price (up from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. SunTrust Banks, Inc. began coverage on Biogen in a research report on Wednesday, September 20th. They set a “buy” rating and a $360.00 target price for the company. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $350.00 target price on shares of Biogen in a research report on Wednesday. Twelve 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 stock. Biogen has an average rating of “Buy” and a consensus price target of $341.89.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at $308.97 on Friday. The company has a market capitalization of $65,340.05, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $348.84.
Biogen (NASDAQ:BIIB) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business posted $5.19 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts expect that Biogen Inc. will post 22.07 earnings per share for the current fiscal 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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