Raymond James & Associates raised its stake in Biogen Inc (NASDAQ:BIIB) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 335,295 shares of the biotechnology company’s stock after acquiring an additional 2,604 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Biogen worth $106,815,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Alliancebernstein L.P. increased its stake in Biogen by 27.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after purchasing an additional 727,007 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Biogen by 35.1% in the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after purchasing an additional 600,384 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Biogen by 24.0% in the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after purchasing an additional 450,207 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Biogen by 426.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 245,830 shares of the biotechnology company’s stock valued at $78,314,000 after purchasing an additional 199,140 shares during the last quarter. Finally, Jackson Square Partners LLC increased its stake in Biogen by 9.3% in the third quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock valued at $704,286,000 after purchasing an additional 191,526 shares during the last quarter. 88.96% of the stock is owned by institutional investors.
Several research firms recently commented on BIIB. Guggenheim set a $400.00 target price on Biogen and gave the company a “buy” rating in a research note on Friday, March 2nd. BidaskClub lowered Biogen from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. BMO Capital Markets dropped their price target on Biogen from $403.00 to $393.00 and set an “outperform” rating for the company in a research note on Friday, March 2nd. Canaccord Genuity set a $350.00 price target on Biogen and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Finally, Oppenheimer set a $350.00 price target on Biogen and gave the stock a “buy” rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the stock. Biogen presently has an average rating of “Buy” and a consensus price target of $370.07.
Biogen Inc (BIIB) opened at $286.10 on Monday. The company has a market capitalization of $60,530.00, a PE ratio of 16.39, a P/E/G ratio of 1.57 and a beta of 0.91. Biogen Inc has a 1-year low of $244.28 and a 1-year high of $370.57. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a net margin of 20.69% and a return on equity of 38.32%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.04 EPS. equities analysts forecast that Biogen Inc will post 24.87 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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