Hennessy Advisors Inc. increased its position in Biogen Inc. (NASDAQ:BIIB) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the biotechnology company’s stock after acquiring an additional 300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Biogen were worth $2,348,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC purchased a new stake in Biogen in the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. increased its holdings in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 50 shares in the last quarter. Atlantic Trust LLC purchased a new stake in Biogen in the 2nd quarter worth approximately $114,000. Independent Portfolio Consultants Inc. increased its holdings in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 219 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 6 shares in the last quarter. 87.76% of the stock is owned by institutional investors.
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Several equities research analysts recently issued reports on the stock. Vetr lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a research note on Wednesday, August 16th. BMO Capital Markets restated a “hold” rating and issued a $318.00 price target on shares of Biogen in a research note on Tuesday, July 18th. Leerink Swann restated a “market perform” rating and issued a $338.00 price target (up from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Finally, BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $341.89.
Shares of Biogen Inc. (NASDAQ BIIB) traded up $0.48 during trading on Friday, hitting $310.44. The stock had a trading volume of 820,700 shares, compared to its average volume of 1,616,859. The stock has a market capitalization of $65,650.92, a price-to-earnings ratio of 14.38, a P/E/G ratio of 1.94 and a beta of 0.72. 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 Inc. has a 1 year low of $244.28 and a 1 year high of $348.84.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion for 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 revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.19 earnings per share. research analysts forecast that Biogen Inc. will post 22.03 earnings per share for the current 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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