Clean Yield Group grew its stake in Biogen Inc. (NASDAQ:BIIB) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 13,476 shares of the biotechnology company’s stock after buying an additional 648 shares during the quarter. Biogen accounts for about 1.6% of Clean Yield Group’s investment portfolio, making the stock its 16th largest holding. Clean Yield Group’s holdings in Biogen were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Biogen by 0.4% in the 1st quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock valued at $2,614,008,000 after purchasing an additional 30,055 shares in the last quarter. AQR Capital Management LLC boosted its position in Biogen by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,236,171 shares of the biotechnology company’s stock worth $583,059,000 after buying an additional 116,044 shares during the period. Goldman Sachs Group Inc. boosted its position in Biogen by 1.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,337,631 shares of the biotechnology company’s stock worth $357,884,000 after buying an additional 25,567 shares during the period. Nordea Investment Management AB boosted its position in Biogen by 108.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,087,186 shares of the biotechnology company’s stock worth $283,778,000 after buying an additional 566,347 shares during the period. Finally, Orbimed Advisors LLC boosted its position in Biogen by 49.0% during the 2nd quarter. Orbimed Advisors LLC now owns 715,900 shares of the biotechnology company’s stock worth $191,539,000 after buying an additional 235,500 shares during the period. Institutional investors own 83.74% of the company’s stock.

Several equities research analysts recently commented on BIIB shares. Oppenheimer lifted their target price on shares of Biogen from $325.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Raymond James reiterated a “sell” rating on shares of Biogen in a research report on Friday, July 31st. BMO Capital Markets cut their target price on shares of Biogen from $317.00 to $280.00 and set a “market perform” rating on the stock in a research report on Thursday, July 23rd. Mizuho restated a “hold” rating and set a $316.00 price target on shares of Biogen in a report on Wednesday, July 22nd. Finally, Guggenheim restated a “buy” rating and set a $390.00 price target on shares of Biogen in a report on Wednesday, July 8th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $311.96.

BIIB stock traded down $0.62 during midday trading on Friday, reaching $280.01. 843,290 shares of the company’s stock traded hands, compared to its average volume of 1,662,454. The company has a market cap of $44.33 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 1.67 and a beta of 0.54. The firm’s fifty day moving average price is $278.53 and its 200-day moving average price is $289.64. The company has a quick ratio of 2.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.66. Biogen Inc. has a 52 week low of $220.01 and a 52 week high of $374.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $2.23. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.44 billion. Biogen had a net margin of 40.91% and a return on equity of 50.10%. During the same quarter in the previous year, the business posted $9.15 EPS. Analysts forecast that Biogen Inc. will post 34.74 earnings per share 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 multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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