Norinchukin Bank The increased its position in Biogen Inc. (NASDAQ:BIIB) by 3.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,161 shares of the biotechnology company’s stock after buying an additional 525 shares during the quarter. Norinchukin Bank The’s holdings in Biogen were worth $3,962,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Annapolis Financial Services LLC bought a new position in Biogen in the 4th quarter worth $25,000. Signet Investment Advisory Group Inc. bought a new position in Biogen in the 4th quarter worth $26,000. Prime Capital Investment Advisors LLC bought a new position in Biogen in the 1st quarter worth $26,000. Sittner & Nelson LLC purchased a new stake in Biogen in the 4th quarter worth $28,000. Finally, Coastal Capital Group Inc. purchased a new stake in Biogen in the 1st quarter worth $28,000. 85.10% of the stock is owned by institutional investors.
BIIB has been the topic of several research analyst reports. TheStreet upgraded shares of Biogen from a “c+” rating to a “b” rating in a research note on Tuesday. Cowen upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $225.00 to $450.00 in a research note on Monday. Jefferies Financial Group boosted their price target on shares of Biogen from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on shares of Biogen from $259.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, SVB Leerink upped their target price on shares of Biogen from $380.00 to $475.00 and gave the company an “outperform” rating in a research report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Biogen presently has a consensus rating of “Buy” and a consensus price target of $374.34.
NASDAQ:BIIB opened at $414.71 on Friday. Biogen Inc. has a 52 week low of $223.25 and a 52 week high of $468.55. The company’s 50 day moving average price is $282.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.75. The stock has a market capitalization of $62.44 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.87 and a beta of 0.44.
Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 21st. The biotechnology company reported $5.34 EPS for the quarter, beating the Zacks’ consensus estimate of $5.06 by $0.28. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Biogen had a net margin of 23.89% and a return on equity of 42.04%. Biogen’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.14 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 18.43 earnings per share for the current fiscal year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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