Sector Gamma AS trimmed its holdings in Biogen Inc (NASDAQ:BIIB) by 54.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 52,426 shares of the biotechnology company’s stock after selling 62,700 shares during the quarter. Biogen accounts for about 2.1% of Sector Gamma AS’s holdings, making the stock its 18th biggest holding. Sector Gamma AS’s holdings in Biogen were worth $12,206,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Auxier Asset Management lifted its holdings in shares of Biogen by 3.7% in the 2nd quarter. Auxier Asset Management now owns 27,217 shares of the biotechnology company’s stock worth $6,365,000 after acquiring an additional 960 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in shares of Biogen by 6.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock worth $334,000 after acquiring an additional 84 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Biogen by 12.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,638 shares of the biotechnology company’s stock worth $19,327,000 after acquiring an additional 9,094 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Biogen by 64.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,157 shares of the biotechnology company’s stock worth $1,674,000 after acquiring an additional 2,803 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Biogen in the 2nd quarter worth approximately $41,118,000. Hedge funds and other institutional investors own 88.52% of the company’s stock.
Biogen stock traded up $6.38 during mid-day trading on Friday, reaching $293.25. 1,476,900 shares of the company traded hands, compared to its average volume of 1,920,335. The firm has a market capitalization of $52.72 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.58 and a beta of 1.07. The firm’s 50 day moving average price is $251.07 and its 200 day moving average price is $236.17. Biogen Inc has a 52-week low of $215.77 and a 52-week high of $344.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.74.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.27 by $0.90. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.40 EPS. On average, sell-side analysts anticipate that Biogen Inc will post 33.19 EPS for the current year.
A number of equities research analysts have recently weighed in on BIIB shares. William Blair restated a “hold” rating on shares of Biogen in a report on Friday, October 25th. Canaccord Genuity upped their price target on shares of Biogen from $285.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Svb Leerink upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and upped their price target for the company from $256.00 to $350.00 in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of Biogen from $280.00 to $334.00 and gave the company a “positive” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their price target on shares of Biogen from $255.00 to $310.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $288.33.
Biogen Company Profile
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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