Brown Advisory Inc. decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,804 shares of the biotechnology company’s stock after selling 4,942 shares during the period. Brown Advisory Inc.’s holdings in Biogen were worth $2,443,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIIB. Prentiss Smith & Co. Inc. increased its holdings in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the period. Atlantic Trust LLC acquired a new position in shares of Biogen in the second quarter valued at approximately $114,000. Independent Portfolio Consultants Inc. increased its holdings in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the period. Horan Capital Advisors LLC. acquired a new position in shares of Biogen in the third quarter valued at approximately $128,000. Finally, Massey Quick Simon & CO. LLC increased its holdings in shares of Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares during the period. 88.30% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the company. Bank of America boosted their target price on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Citigroup downgraded Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Piper Jaffray Companies restated an “overweight” rating and issued a $390.00 price target on shares of Biogen in a research note on Monday, October 23rd. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and lifted their price target for the company from $300.00 to $415.00 in a research note on Tuesday, October 17th. Finally, Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and lifted their price target for the company from $319.00 to $400.00 in a research note on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned 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 price target of $344.60.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Biogen Inc. (NASDAQ BIIB) opened at $314.66 on Thursday. The company has a market capitalization of $67,122.77, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.98 and a beta of 0.73. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $348.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Thomson Reuters’ 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 return on equity of 38.51% and a net margin of 29.44%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.19 earnings per share. equities analysts predict that Biogen Inc. will post 22.03 EPS for the current fiscal year.
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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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