Biogen Inc. (BIIB) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,226 shares of the biotechnology company’s stock after purchasing an additional 315 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Biogen were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Biogen by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after buying an additional 6 shares during the period. Carroll Financial Associates Inc. boosted its position in Biogen by 1.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the period. RMB Capital Management LLC boosted its position in Biogen by 1.1% during the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock worth $223,000 after buying an additional 9 shares during the period. New Amsterdam Partners LLC NY boosted its position in Biogen by 0.8% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after buying an additional 11 shares during the period. Finally, Alta Capital Management LLC boosted its position in Biogen by 0.8% during the 2nd quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock worth $510,000 after buying an additional 15 shares during the period. Institutional investors own 88.35% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) traded down $5.57 during trading hours on Tuesday, hitting $310.14. 458,020 shares of the company were exchanged, compared to its average volume of 1,518,202. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $66,770.00, a P/E ratio of 14.38, a P/E/G ratio of 1.94 and a beta of 0.72. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.19 EPS. analysts predict that Biogen Inc. will post 22.03 EPS for the current year.

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Several equities research analysts recently commented on BIIB shares. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Tuesday, August 29th. ValuEngine downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a research report on Friday, August 25th. SunTrust Banks, Inc. restated a “buy” rating and issued a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Finally, Mizuho restated a “neutral” rating and issued a $319.00 price target (up previously from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $341.89.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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