HL Financial Services LLC cut its stake in Biogen Inc (NASDAQ:BIIB) by 37.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,677 shares of the biotechnology company’s stock after selling 2,827 shares during the quarter. HL Financial Services LLC’s holdings in Biogen were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Biogen in the third quarter worth $107,000. NEXT Financial Group Inc acquired a new position in shares of Biogen in the third quarter worth $133,000. Harvest Fund Management Co. Ltd increased its stake in shares of Biogen by 122.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 211 shares during the last quarter. Adviser Investments LLC increased its stake in shares of Biogen by 745.7% in the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new position in shares of Biogen in the third quarter worth $159,000. 87.55% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ BIIB opened at $325.20 on Friday. The company has a market cap 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 debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $6.31 earnings per share. Equities analysts predict that Biogen Inc will post 25.71 earnings per share for the current year.
A number of research firms have recently weighed in on BIIB. ValuEngine raised shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays upped their price target on shares of Biogen from $295.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 25th. BidaskClub raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. dropped their price target on shares of Biogen from $445.00 to $436.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, Oppenheimer set a $380.00 target price on shares of Biogen and gave the stock a “buy” rating in a research report on Sunday, October 28th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $383.01.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.
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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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