Belpointe Asset Management LLC purchased a new position in shares of Biogen Inc (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,686 shares of the biotechnology company’s stock, valued at approximately $1,154,000.
Several other large investors have also recently added to or reduced their stakes in the company. Atlantic Trust LLC acquired a new position in Biogen in the 2nd quarter valued at about $114,000. Horan Capital Advisors LLC. acquired a new position in Biogen in the 3rd quarter valued at about $128,000. Massey Quick Simon & CO. LLC raised its stake in Biogen by 84.8% in the 3rd 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 last quarter. Gs Investments Inc. acquired a new position in Biogen in the 2nd quarter valued at about $136,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in Biogen by 33.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 528 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 132 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.
Shares of Biogen Inc (BIIB) opened at $327.75 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc has a fifty-two week low of $244.28 and a fifty-two week high of $348.84. The stock has a market capitalization of $69,370.77, a PE ratio of 15.19, a PEG ratio of 2.05 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the business earned $5.19 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts expect that Biogen Inc will post 22.03 earnings per share for the current fiscal year.
In other news, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.
Several research analysts recently weighed in on the stock. Oppenheimer set a $350.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, December 4th. Sanford C. Bernstein set a $318.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, November 28th. BMO Capital Markets reissued a “buy” rating and issued a $385.00 target price on shares of Biogen in a research note on Monday, November 27th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research note on Wednesday, August 23rd. Finally, J P Morgan Chase & Co set a $378.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 27th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Biogen has a consensus rating of “Buy” and an average price target of $344.60.
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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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