Sigma Investment Counselors Inc. Purchases New Position in Biogen Inc (BIIB)
Sigma Investment Counselors Inc. purchased a new position in shares of Biogen Inc (NASDAQ:BIIB) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 636 shares of the biotechnology company’s stock, valued at approximately $203,000.
A number of other large investors have also recently added to or reduced their stakes in BIIB. Ameriprise Financial Inc. grew its stake in Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Biogen by 24.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after buying an additional 450,207 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Biogen during the 3rd quarter worth approximately $123,494,000. Jackson Square Partners LLC grew its stake in Biogen by 9.3% during the 3rd quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock worth $704,286,000 after buying an additional 191,526 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in Biogen by 61.9% during the 3rd quarter. Schroder Investment Management Group now owns 495,471 shares of the biotechnology company’s stock worth $153,596,000 after buying an additional 189,501 shares during the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.
Several brokerages have weighed in on BIIB. Piper Jaffray Companies reiterated a “buy” rating and issued a $390.00 target price on shares of Biogen in a research note on Monday, December 18th. Nomura lifted their target price on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $321.00 target price on shares of Biogen in a research note on Tuesday, December 5th. SunTrust Banks reiterated a “buy” rating and issued a $354.00 target price on shares of Biogen in a research note on Tuesday, October 24th. Finally, Canaccord Genuity began coverage on Biogen in a research note on Friday, October 27th. They issued a “hold” rating and a $340.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $368.99.
Shares of Biogen Inc (BIIB) opened at $316.63 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen Inc has a 12 month low of $244.28 and a 12 month high of $370.57. The firm has a market capitalization of $67,018.83, a P/E ratio of 26.56, a P/E/G ratio of 1.65 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm earned $5.04 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. research analysts anticipate that Biogen Inc will post 24.88 EPS for the current 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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