Valeo Financial Advisors LLC Takes $176,000 Position in Biogen Inc (BIIB)
Valeo Financial Advisors LLC purchased a new position in Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 561 shares of the biotechnology company’s stock, valued at approximately $176,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares during the period. Vanguard Group Inc. raised its position in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp raised its position in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares during the period. FMR LLC raised its position in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the period. Finally, Northern Trust Corp raised its position in Biogen by 8.0% in the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock worth $818,731,000 after acquiring an additional 223,371 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.
BIIB has been the topic of several recent research reports. Vetr upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $346.83 price target on the stock in a research report on Thursday, September 7th. SunTrust Banks initiated coverage on shares of Biogen in a research report on Wednesday, September 20th. They issued a “buy” rating and a $360.00 price target on the stock. Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and increased their price target for the stock from $300.00 to $415.00 in a research report on Tuesday, October 17th. Mizuho upgraded shares of Biogen from a “neutral” rating to a “buy” rating and raised their price objective for the company from $319.00 to $400.00 in a research report on Tuesday, October 17th. Finally, Morgan Stanley restated a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Biogen presently has an average rating of “Buy” and a consensus price target of $344.60.
In related news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.
Biogen Inc (BIIB) opened at $327.75 on Wednesday. The firm has a market cap of $69,370.77, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 0.73. Biogen Inc has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The company 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $5.19 earnings per share. equities analysts predict 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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