Cubist Systematic Strategies LLC grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 1,118.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 59,426 shares of the biotechnology company’s stock after acquiring an additional 54,549 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Biogen were worth $13,898,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock valued at $991,793,000 after buying an additional 1,063,775 shares during the period. Renaissance Technologies LLC lifted its holdings in Biogen by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock worth $580,717,000 after buying an additional 851,263 shares in the last quarter. Parnassus Investments CA lifted its holdings in Biogen by 46.8% during the 2nd quarter. Parnassus Investments CA now owns 925,000 shares of the biotechnology company’s stock worth $216,330,000 after buying an additional 295,000 shares in the last quarter. Banco Santander S.A. lifted its holdings in Biogen by 134.5% during the 1st quarter. Banco Santander S.A. now owns 355,801 shares of the biotechnology company’s stock worth $84,105,000 after buying an additional 204,042 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Biogen during the 2nd quarter worth approximately $41,118,000. Hedge funds and other institutional investors own 86.17% of the company’s stock.
Shares of NASDAQ BIIB traded up $5.67 during mid-day trading on Friday, reaching $241.29. The company had a trading volume of 22,624 shares, compared to its average volume of 1,304,334. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $230.85 and a two-hundred day simple moving average of $239.84. The stock has a market cap of $43.46 billion, a P/E ratio of 9.20, a PEG ratio of 1.21 and a beta of 1.01. Biogen Inc has a 52-week low of $215.77 and a 52-week high of $358.41.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $5.80 EPS. On average, equities analysts expect that Biogen Inc will post 32.38 EPS for the current year.
BIIB has been the topic of a number of research reports. Canaccord Genuity increased their target price on shares of Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. BidaskClub upgraded shares of Biogen from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Royal Bank of Canada set a $242.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Friday, September 6th. Cowen reiterated a “buy” rating and set a $275.00 target price on shares of Biogen in a report on Tuesday, July 30th. Finally, Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $270.00.
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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