Jackson Grant Investment Advisers Inc. Takes $40,000 Position in Biogen Inc (BIIB)

Jackson Grant Investment Advisers Inc. bought a new position in Biogen Inc (NASDAQ:BIIB) during the 4th quarter, HoldingsChannel.com reports. The fund bought 132 shares of the biotechnology company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMS Capital Management bought a new stake in shares of Biogen in the third quarter worth about $38,000. Moody National Bank Trust Division purchased a new stake in Biogen in the fourth quarter worth about $41,000. Honkamp Krueger Financial Services Inc. purchased a new stake in Biogen in the third quarter worth about $103,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in Biogen in the third quarter worth about $107,000. Finally, Csenge Advisory Group purchased a new stake in Biogen in the third quarter worth about $95,000. 86.86% of the stock is currently owned by institutional investors.

Several brokerages have commented on BIIB. JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a report on Thursday, January 10th. BidaskClub upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, January 7th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. BTIG Research began coverage on shares of Biogen in a report on Wednesday, December 26th. They issued a “buy” rating for the company. Finally, Morgan Stanley raised their price objective on shares of Biogen from $394.00 to $401.00 and gave the stock an “overweight” rating in a report on Wednesday, December 19th. Eight investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $381.86.

NASDAQ BIIB traded down $1.74 during mid-day trading on Wednesday, reaching $337.22. The stock had a trading volume of 854,188 shares, compared to its average volume of 1,064,012. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67. The firm has a market cap of $67.98 billion, a P/E ratio of 15.46, a PEG ratio of 1.23 and a beta of 0.99. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $6.31 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Biogen Inc will post 25.84 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Jackson Grant Investment Advisers Inc. Takes $40,000 Position in Biogen Inc (BIIB)” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.chaffeybreeze.com/2019/01/23/jackson-grant-investment-advisers-inc-takes-40000-position-in-biogen-inc-biib.html.

About Biogen

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.

Recommended Story: How to interpret the current ratio

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply