Robeco Institutional Asset Management B.V. cut its position in shares of Biogen Inc (NASDAQ:BIIB) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,246 shares of the biotechnology company’s stock after selling 53,225 shares during the period. Robeco Institutional Asset Management B.V. owned 0.18% of Biogen worth $129,046,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Biogen by 861.3% during the 2nd quarter. Private Advisor Group LLC now owns 22,426 shares of the biotechnology company’s stock valued at $6,528,000 after acquiring an additional 20,093 shares during the last quarter. Kaizen Advisory LLC increased its holdings in shares of Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 296 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Biogen by 2,188.6% during the 3rd quarter. Acadian Asset Management LLC now owns 122,418 shares of the biotechnology company’s stock valued at $43,254,000 after acquiring an additional 117,069 shares during the last quarter. Rathbone Brothers plc increased its holdings in shares of Biogen by 269.4% during the 3rd quarter. Rathbone Brothers plc now owns 2,708 shares of the biotechnology company’s stock valued at $957,000 after acquiring an additional 1,975 shares during the last quarter. Finally, First Interstate Bank increased its holdings in shares of Biogen by 112.2% during the 2nd quarter. First Interstate Bank now owns 885 shares of the biotechnology company’s stock valued at $257,000 after acquiring an additional 468 shares during the last quarter. 87.55% of the stock is owned by institutional investors.
In other news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.
A number of research analysts have recently commented on BIIB shares. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a report on Friday, October 12th. UBS Group increased their price objective on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Oppenheimer set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Citigroup increased their price objective on Biogen to $483.00 and gave the company a “positive” rating in a report on Thursday, July 26th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $383.01.
BIIB opened at $325.20 on Friday. The company has a market capitalization of $66.79 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth 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 12-month low of $249.17 and a 12-month high of $388.67.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.31 EPS. Research analysts expect that Biogen Inc will post 25.71 EPS 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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