South Dakota Investment Council decreased its position in Biogen Inc (NASDAQ:BIIB) by 73.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,175 shares of the biotechnology company’s stock after selling 28,441 shares during the period. South Dakota Investment Council’s holdings in Biogen were worth $2,380,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Trustcore Financial Services LLC increased its stake in Biogen by 152.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 67 shares during the last quarter. Resources Investment Advisors Inc. grew its position in Biogen by 500.0% during the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Weaver Consulting Group acquired a new stake in Biogen during the first quarter worth approximately $28,000. Private Ocean LLC bought a new position in Biogen during the 1st quarter worth $31,000. Finally, Ruggie Capital Group bought a new position in Biogen during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 86.55% of the company’s stock.
A number of research firms have recently weighed in on BIIB. BidaskClub lowered Biogen from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. Mizuho reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Standpoint Research upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada set a $242.00 target price on shares of Biogen and gave the company a “hold” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $270.00.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.80 earnings per share. Analysts predict that Biogen Inc will post 32.38 EPS for the current fiscal year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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