Biogen Inc (BIIB) Holdings Lifted by Watch Point Trust Co
Watch Point Trust Co increased its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,549 shares of the biotechnology company’s stock after acquiring an additional 41 shares during the quarter. Watch Point Trust Co’s holdings in Biogen were worth $1,971,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Asset Management Inc. boosted its holdings in Biogen by 120.6% in the third quarter. National Asset Management Inc. now owns 1,899 shares of the biotechnology company’s stock worth $672,000 after acquiring an additional 1,038 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Biogen by 2,188.6% during the third quarter. Acadian Asset Management LLC now owns 122,418 shares of the biotechnology company’s stock valued at $43,254,000 after buying an additional 117,069 shares during the period. Jackson Square Partners LLC boosted its stake in Biogen by 5.7% during the third quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock valued at $792,042,000 after buying an additional 121,072 shares during the period. Blair William & Co. IL boosted its stake in Biogen by 17.4% during the third quarter. Blair William & Co. IL now owns 18,449 shares of the biotechnology company’s stock valued at $6,518,000 after buying an additional 2,735 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in Biogen by 13.0% during the third quarter. Rockefeller Capital Management L.P. now owns 321,622 shares of the biotechnology company’s stock worth $113,632,000 after purchasing an additional 37,049 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.
BIIB has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of Biogen in a research note on Monday, October 1st. Citigroup reduced their price target on Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a report on Monday, October 8th. Raymond James set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Tuesday, October 23rd. BTIG Research assumed coverage on Biogen in a report on Wednesday, December 26th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reduced their price target on Biogen to $338.00 and set a “sector perform” rating on the stock in a report on Monday, November 26th. Eight investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $381.86.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.31 EPS. On average, equities analysts anticipate that Biogen Inc will post 25.84 EPS for the current year.
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Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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