Kornitzer Capital Management Inc. KS lessened its position in shares of Biogen Inc (NASDAQ:BIIB) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,326 shares of the biotechnology company’s stock after selling 1,050 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Biogen were worth $3,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BIIB. Nuveen Asset Management LLC increased its position in Biogen by 506.4% during the second quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock valued at $308,493,000 after acquiring an additional 1,101,563 shares during the last quarter. Renaissance Technologies LLC increased its position in Biogen by 52.2% during the second quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock valued at $580,717,000 after acquiring an additional 851,263 shares during the last quarter. Boston Partners increased its position in Biogen by 70.1% during the second quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock valued at $367,141,000 after acquiring an additional 647,141 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Biogen by 1,345.3% during the third quarter. Assenagon Asset Management S.A. now owns 674,932 shares of the biotechnology company’s stock valued at $157,138,000 after acquiring an additional 628,233 shares during the last quarter. Finally, Parnassus Investments CA increased its position in Biogen by 46.8% during the second quarter. Parnassus Investments CA now owns 925,000 shares of the biotechnology company’s stock valued at $216,330,000 after acquiring an additional 295,000 shares during the last quarter. Institutional investors own 88.52% of the company’s stock.

A number of analysts recently commented on BIIB shares. Guggenheim upgraded Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $256.00 to $365.00 in a research report on Wednesday, October 23rd. Credit Suisse Group upped their price objective on Biogen from $203.00 to $260.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Biogen from $244.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upgraded Biogen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $288.33.

BIIB traded up $6.38 during midday trading on Friday, reaching $293.25. The company had a trading volume of 1,476,900 shares, compared to its average volume of 1,920,335. The company has a market cap of $52.72 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.58 and a beta of 1.07. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $344.00. The business has a 50-day moving average of $251.07 and a two-hundred day moving average of $236.17. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.27 by $0.90. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.53 billion. Biogen had a return on equity of 46.14% and a net margin of 37.91%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $7.40 EPS. On average, equities research analysts predict that Biogen Inc will post 33.19 EPS for the current year.

Biogen Profile

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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