Vigilant Capital Management LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300 shares of the biotechnology company’s stock, valued at approximately $85,000.
A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Biogen by 0.4% during the first quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock worth $2,614,008,000 after acquiring an additional 30,055 shares during the period. AQR Capital Management LLC increased its position in shares of Biogen by 5.5% during the second quarter. AQR Capital Management LLC now owns 2,236,171 shares of the biotechnology company’s stock worth $583,059,000 after acquiring an additional 116,044 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Biogen by 1.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,337,631 shares of the biotechnology company’s stock worth $357,884,000 after acquiring an additional 25,567 shares during the period. Nordea Investment Management AB increased its position in shares of Biogen by 108.7% during the second quarter. Nordea Investment Management AB now owns 1,087,186 shares of the biotechnology company’s stock worth $283,778,000 after acquiring an additional 566,347 shares during the period. Finally, Orbimed Advisors LLC increased its position in shares of Biogen by 49.0% during the second quarter. Orbimed Advisors LLC now owns 715,900 shares of the biotechnology company’s stock worth $191,539,000 after acquiring an additional 235,500 shares during the period. 83.74% of the stock is currently owned by institutional investors.
Shares of Biogen stock opened at $280.01 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.46 and a quick ratio of 2.19. The firm has a fifty day moving average price of $278.53 and a 200 day moving average price of $289.64. Biogen Inc. has a 1 year low of $220.01 and a 1 year high of $374.99. The stock has a market cap of $44.33 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.67 and a beta of 0.54.
Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $2.23. Biogen had a net margin of 40.91% and a return on equity of 50.10%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the company posted $9.15 earnings per share. As a group, equities analysts expect that Biogen Inc. will post 34.74 EPS for the current year.
Several brokerages recently issued reports on BIIB. Bank of America cut their price objective on shares of Biogen from $255.00 to $235.00 and set an “underperform” rating on the stock in a report on Thursday. Mizuho reissued a “hold” rating and set a $316.00 price objective on shares of Biogen in a report on Wednesday, July 22nd. Raymond James reissued a “sell” rating on shares of Biogen in a report on Friday, July 31st. Canaccord Genuity restated a “buy” rating and issued a $396.00 target price on shares of Biogen in a research note on Tuesday, September 29th. Finally, Oppenheimer raised their target price on shares of Biogen from $325.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $311.96.
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 multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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