Macquarie Group Ltd. Buys 81,495 Shares of Biogen Inc. (BIIB)
Macquarie Group Ltd. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 698,232 shares of the biotechnology company’s stock after acquiring an additional 81,495 shares during the period. Macquarie Group Ltd. owned 0.33% of Biogen worth $218,630,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BIIB. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Biogen during the first quarter worth $38,414,000. Guardian Life Insurance Co. of America lifted its position in shares of Biogen by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 6 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Biogen during the first quarter worth $38,414,000. Aviance Capital Partners LLC lifted its position in shares of Biogen by 1.1% during the first quarter. Aviance Capital Partners LLC now owns 3,270 shares of the biotechnology company’s stock worth $894,000 after acquiring an additional 37 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Biogen by 2.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,913 shares of the biotechnology company’s stock worth $1,890,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 88.35% of the company’s stock.
Several equities research analysts have issued reports on BIIB shares. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Vetr upgraded Biogen from a “hold” rating to a “buy” rating and set a $319.53 target price on the stock in a research report on Monday, July 31st. Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $319.00 target price (up previously from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, The Goldman Sachs Group, Inc. raised shares of Biogen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $228.00 to $338.00 in a report on Wednesday, July 26th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average target price of $341.89.
Shares of Biogen Inc. (NASDAQ:BIIB) traded up $3.70 on Friday, reaching $313.98. 731,700 shares of the company’s stock traded hands, compared to its average volume of 1,512,280. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen Inc. has a twelve month low of $244.28 and a twelve month high of $348.84. The stock has a market capitalization of $66,430.00, a price-to-earnings ratio of 14.37, a PEG ratio of 1.94 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm earned $5.19 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. analysts anticipate that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.
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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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