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.
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.
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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.
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