Dimensional Fund Advisors LP increased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 527,331 shares of the biotechnology company’s stock after purchasing an additional 8,704 shares during the quarter. Dimensional Fund Advisors LP owned 0.25% of Biogen worth $165,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Biogen in the third quarter valued at about $123,494,000. Botty Investors LLC lifted its holdings in Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after acquiring an additional 4,812 shares during the period. BB&T Securities LLC lifted its holdings in Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after acquiring an additional 2,598 shares during the period. Neuberger Berman Group LLC lifted its holdings in Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock valued at $7,591,000 after acquiring an additional 4,389 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Biogen by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock valued at $1,862,000 after acquiring an additional 520 shares during the period. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Biogen Inc (NASDAQ BIIB) opened at $330.71 on Thursday. 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. The stock has a market capitalization of $69,940.00, a PE ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the business posted $5.19 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. analysts forecast that Biogen Inc will post 22.03 EPS for the current fiscal year.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.
A number of research analysts have weighed in on the company. Royal Bank of Canada reissued a “hold” rating and issued a $321.00 target price on shares of Biogen in a report on Tuesday, December 5th. Mizuho set a $400.00 target price on Biogen and gave the company a “buy” rating in a report on Monday, November 13th. Goldman Sachs Group raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $316.82 price objective on the stock. in a research note on Monday, September 4th. Finally, Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $344.60.
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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