Blair William & Co. IL boosted its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,449 shares of the biotechnology company’s stock after buying an additional 2,735 shares during the period. Blair William & Co. IL’s holdings in Biogen were worth $6,518,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Private Advisor Group LLC lifted its stake in Biogen by 861.3% during the second quarter. Private Advisor Group LLC now owns 22,426 shares of the biotechnology company’s stock worth $6,528,000 after purchasing an additional 20,093 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Biogen by 2,188.6% during the third quarter. Acadian Asset Management LLC now owns 122,418 shares of the biotechnology company’s stock worth $43,254,000 after purchasing an additional 117,069 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Biogen by 13.0% during the third quarter. Rockefeller Capital Management L.P. now owns 321,622 shares of the biotechnology company’s stock worth $113,632,000 after purchasing an additional 37,049 shares during the last quarter. Rathbone Brothers plc lifted its stake in Biogen by 269.4% during the third quarter. Rathbone Brothers plc now owns 2,708 shares of the biotechnology company’s stock worth $957,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Jackson Square Partners LLC lifted its stake in Biogen by 5.7% during the third quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock worth $792,042,000 after purchasing an additional 121,072 shares during the last quarter. 86.41% of the stock is owned by institutional investors.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.
Several brokerages have issued reports on BIIB. ValuEngine lowered Biogen from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Raymond James reaffirmed a “buy” rating on shares of Biogen in a research note on Wednesday, October 3rd. Stifel Nicolaus began coverage on Biogen in a research note on Tuesday, August 7th. They set a “buy” rating and a $394.00 price target for the company. Finally, Sanford C. Bernstein lowered Biogen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $373.00 to $341.00 in a research note on Friday, October 19th. 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 a consensus rating of “Buy” and an average target price of $382.58.
NASDAQ BIIB opened at $333.72 on Monday. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. The stock has a market capitalization of $67.24 billion, a PE ratio of 15.30, a P/E/G ratio of 1.29 and a beta of 1.01.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the company posted $6.31 EPS. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Biogen Inc will post 25.82 earnings per share for the current 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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