Steward Partners Investment Advisory LLC Takes $792,000 Position in Biogen Inc (BIIB)
Steward Partners Investment Advisory LLC purchased a new stake in Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,532 shares of the biotechnology company’s stock, valued at approximately $792,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Atlantic Trust LLC acquired a new stake in Biogen during the 2nd quarter valued at $114,000. Horan Capital Advisors LLC. acquired a new stake in Biogen during the 3rd quarter valued at $128,000. Massey Quick Simon & CO. LLC raised its stake in 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 purchasing an additional 195 shares during the period. Gs Investments Inc. acquired a new stake in Biogen during the 2nd quarter valued at $136,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in Biogen by 33.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 528 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 132 shares during the period. 88.30% of the stock is currently owned by institutional investors.
BIIB has been the topic of several recent analyst reports. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research note on Wednesday, August 23rd. SunTrust Banks initiated coverage on shares of Biogen in a research note on Wednesday, September 20th. They issued a “buy” rating and a $360.00 price target on the stock. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price target for the stock from $300.00 to $415.00 in a research note on Tuesday, October 17th. Mizuho raised shares of Biogen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $319.00 to $400.00 in a research note on Tuesday, October 17th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research note on Tuesday, October 17th. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $344.60.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $327.94 on Friday. The stock has a market cap of $70,290.00, a price-to-earnings ratio of 14.99, a P/E/G ratio of 2.02 and a beta of 0.73. Biogen Inc has a fifty-two week low of $244.28 and a fifty-two 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.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.19 earnings per share. analysts anticipate that Biogen Inc will post 22.03 EPS 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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