Dupont Capital Management Corp increased its stake in shares of Biogen Inc (NASDAQ:BIIB) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,255 shares of the biotechnology company’s stock after acquiring an additional 3,335 shares during the quarter. Dupont Capital Management Corp’s holdings in Biogen were worth $5,390,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in BIIB. LeJeune Puetz Investment Counsel LLC purchased a new position in Biogen during the 3rd quarter worth $107,000. NEXT Financial Group Inc purchased a new position in Biogen during the 3rd quarter worth $133,000. Harvest Fund Management Co. Ltd grew its position in Biogen by 122.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 211 shares during the last quarter. Adviser Investments LLC grew its position in Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 343 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new position in Biogen during the 3rd quarter worth $159,000. Hedge funds and other institutional investors own 87.55% of the company’s stock.
Several research analysts have issued reports on BIIB shares. Guggenheim reissued a “buy” rating and set a $410.00 price objective on shares of Biogen in a research report on Tuesday, July 24th. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Cowen reissued a “buy” rating and set a $408.00 price objective on shares of Biogen in a research report on Tuesday, July 24th. Mizuho reissued a “buy” rating and set a $423.00 price objective on shares of Biogen in a research report on Tuesday, July 24th. Finally, Canaccord Genuity raised their price objective on shares of Biogen from $335.00 to $396.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $383.01.
In other news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.
Shares of NASDAQ:BIIB opened at $325.20 on Friday. The stock has a market capitalization of $66.79 billion, a PE ratio of 14.91, a PEG ratio of 1.31 and a beta of 1.01. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.31 earnings per share. On average, equities analysts predict that Biogen Inc will post 25.71 earnings per share for the current fiscal year.
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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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