Biogen Inc (NASDAQ:BIIB) Shares Purchased by Westpac Banking Corp
Westpac Banking Corp grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,488 shares of the biotechnology company’s stock after acquiring an additional 8,816 shares during the quarter. Westpac Banking Corp’s holdings in Biogen were worth $20,461,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of BIIB. Comerica Securities Inc. increased its stake in shares of Biogen by 18.9% in the 4th quarter. Comerica Securities Inc. now owns 2,207 shares of the biotechnology company’s stock worth $664,000 after acquiring an additional 351 shares in the last quarter. Geode Capital Management LLC increased its stake in Biogen by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after purchasing an additional 144,464 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Biogen by 39.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 805 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 227 shares in the last quarter. Truvestments Capital LLC bought a new stake in Biogen during the 1st quarter valued at about $47,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Biogen during the 1st quarter valued at about $751,000. Hedge funds and other institutional investors own 91.11% of the company’s stock.
A number of analysts have recently commented on BIIB shares. Cowen reiterated a “buy” rating and issued a $275.00 price target on shares of Biogen in a research note on Tuesday, July 30th. BidaskClub raised shares of Biogen from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays dropped their price objective on shares of Biogen from $250.00 to $245.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Wedbush assumed coverage on shares of Biogen in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price objective on the stock. Finally, Mizuho reissued a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have issued a buy rating to the company’s stock. Biogen presently has a consensus rating of “Hold” and an average price target of $269.74.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.80 earnings per share. As a group, equities analysts anticipate that Biogen Inc will post 32.41 earnings per share for the current year.
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 the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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