Victory Capital Management Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,433 shares of the biotechnology company’s stock after buying an additional 570 shares during the quarter. Victory Capital Management Inc.’s holdings in Biogen were worth $2,641,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after buying an additional 415,099 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after buying an additional 182,337 shares during the last quarter. State Street Corp boosted its holdings in shares of Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after buying an additional 140,929 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after buying an additional 351,224 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares during the last quarter. 88.35% of the stock is currently owned by institutional investors.
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BIIB has been the topic of a number of research reports. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective on the stock. in a report on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and set a $279.00 target price on shares of Biogen in a research note on Tuesday, October 24th. Royal Bank Of Canada restated a “hold” rating and set a $315.00 target price on shares of Biogen in a research note on Thursday, October 5th. Canaccord Genuity began coverage on shares of Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 target price on the stock. Finally, Leerink Swann restated a “market perform” rating and set a $338.00 target price (up previously from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $341.89.
Shares of Biogen Inc. (NASDAQ BIIB) opened at $313.97 on Friday. The stock has a market cap of $66,400.00, a price-to-earnings ratio of 14.34, a PEG ratio of 1.93 and a beta of 0.72. Biogen Inc. has a one year low of $244.28 and a one year high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.19 earnings per share. sell-side analysts predict that Biogen Inc. will post 22.03 EPS for the current fiscal year.
Biogen Company Profile
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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