Atria Investments LLC grew its position in shares of Biogen Inc (NASDAQ:BIIB) by 51.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,650 shares of the biotechnology company’s stock after buying an additional 1,910 shares during the quarter. Atria Investments LLC’s holdings in Biogen were worth $1,996,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Douglas Lane & Associates LLC purchased a new position in shares of Biogen in the 3rd quarter valued at about $257,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Biogen in the 3rd quarter valued at about $2,903,000. Rhenman & Partners Asset Management AB grew its stake in Biogen by 130.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 30,000 shares of the biotechnology company’s stock valued at $10,599,000 after acquiring an additional 17,000 shares during the last quarter. Northwest Bancshares Inc. grew its stake in Biogen by 5.9% in the 3rd quarter. Northwest Bancshares Inc. now owns 5,294 shares of the biotechnology company’s stock valued at $1,870,000 after acquiring an additional 297 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in Biogen in the 2nd quarter valued at about $26,522,000. Institutional investors own 87.46% of the company’s stock.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.
A number of equities research analysts recently commented on BIIB shares. HC Wainwright reissued a “buy” rating on shares of Biogen in a research note on Monday, July 9th. Oppenheimer set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Sunday, July 8th. Nomura reissued a “buy” rating and issued a $420.00 price objective on shares of Biogen in a research note on Friday, July 6th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a research note on Friday, July 6th. Finally, Canaccord Genuity set a $335.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Biogen currently has an average rating of “Buy” and an average target price of $381.31.
Biogen stock opened at $330.94 on Friday. Biogen Inc has a 12-month low of $249.17 and a 12-month high of $388.67. The stock has a market cap of $71.17 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the company earned $5.04 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that Biogen Inc will post 25.34 EPS for the current fiscal year.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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