BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $37.92 Million Position in Biogen Inc. (BIIB)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,094 shares of the biotechnology company’s stock after selling 1,861 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Biogen worth $37,917,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Prentiss Smith & Co. Inc. grew its stake in Biogen by 14.9% during the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in Biogen during the third quarter worth about $128,000. Atlantic Trust LLC bought a new stake in Biogen during the second quarter worth about $114,000. Massey Quick Simon & CO. LLC grew its stake in Biogen by 84.8% during the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after buying an additional 195 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. grew its stake in Biogen by 93.2% during the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
Several brokerages have weighed in on BIIB. Goldman Sachs Group raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Royal Bank Of Canada upped their price objective on shares of Biogen to $321.00 and gave the stock a “sector perform” rating in a research note on Tuesday. SunTrust Banks began coverage on shares of Biogen in a research note on Wednesday, September 20th. They set a “buy” rating and a $360.00 price objective on the stock. Mizuho reaffirmed a “neutral” rating and set a $319.00 price objective (up from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. Finally, Raymond James Financial cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and upped their price objective for the stock from $244.28 to $319.00 in a research note on Thursday, September 21st. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $344.60.
Biogen Inc. (NASDAQ BIIB) opened at $319.87 on Wednesday. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84. The stock has a market cap of $67,122.77, a P/E ratio of 14.70, a PEG ratio of 1.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the business posted $5.19 earnings per share. Biogen’s revenue was up 4.1% compared to the same quarter last year. research analysts anticipate that Biogen Inc. will post 22.03 EPS 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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