Rehmann Capital Advisory Group purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 650 shares of the biotechnology company’s stock, valued at approximately $204,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Korea Investment CORP boosted its stake in shares of Biogen by 26.8% in the 3rd quarter. Korea Investment CORP now owns 185,833 shares of the biotechnology company’s stock valued at $58,188,000 after purchasing an additional 39,300 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Biogen by 12.5% in the 3rd quarter. Aperio Group LLC now owns 107,768 shares of the biotechnology company’s stock valued at $33,744,000 after purchasing an additional 12,007 shares in the last quarter. TrueNorth Inc. boosted its stake in shares of Biogen by 13.3% in the 3rd quarter. TrueNorth Inc. now owns 4,543 shares of the biotechnology company’s stock valued at $1,423,000 after purchasing an additional 534 shares in the last quarter. Saratoga Research & Investment Management boosted its stake in shares of Biogen by 2.9% in the 3rd quarter. Saratoga Research & Investment Management now owns 141,509 shares of the biotechnology company’s stock valued at $44,309,000 after purchasing an additional 3,947 shares in the last quarter. Finally, Intermede Investment Partners Ltd boosted its stake in shares of Biogen by 21.7% in the 3rd quarter. Intermede Investment Partners Ltd now owns 130,507 shares of the biotechnology company’s stock valued at $40,864,000 after purchasing an additional 23,287 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.
Biogen Inc. (BIIB) traded down 0.98% during mid-day trading on Tuesday, reaching $312.72. 193,446 shares of the company traded hands. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84. The company’s 50-day moving average is $323.56 and its 200-day moving average is $287.98. The stock has a market capitalization of $66.12 billion, a price-to-earnings ratio of 20.52 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.19 earnings per share. Equities analysts predict that Biogen Inc. will post $22.10 earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on BIIB shares. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and raised their price target for the company from $228.00 to $338.00 in a research note on Wednesday, July 26th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $309.45 price target on the stock. in a research note on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating and issued a $319.00 price target (up from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Cowen and Company restated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Finally, BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Twelve analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $341.25.
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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