Private Capital Group LLC raised its stake in Biogen Inc (NASDAQ:BIIB) by 1,029.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 531 shares of the biotechnology company’s stock after buying an additional 484 shares during the quarter. Private Capital Group LLC’s holdings in Biogen were worth $145,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new stake in Biogen in the 4th quarter valued at $261,000. Banco de Sabadell S.A purchased a new stake in Biogen in the 4th quarter valued at $7,061,000. Alliancebernstein L.P. grew its holdings in Biogen by 27.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after buying an additional 727,007 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in Biogen in the 4th quarter valued at $217,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in Biogen in the 4th quarter valued at $133,000. Institutional investors own 87.26% of the company’s stock.
BIIB stock opened at $296.04 on Friday. The company has a current ratio of 3.23, a quick ratio of 2.95 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $62.74 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.69 and a beta of 0.84. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $370.57.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, April 24th. The biotechnology company reported $6.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.12. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.15 billion. Biogen had a return on equity of 37.64% and a net margin of 23.54%. Biogen’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.20 EPS. equities analysts forecast that Biogen Inc will post 23.85 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity set a $335.00 price target on Biogen and gave the stock a “buy” rating in a report on Wednesday, June 6th. Mizuho set a $423.00 price target on Biogen and gave the stock a “buy” rating in a report on Tuesday, June 5th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, June 1st. BMO Capital Markets lowered their price target on Biogen from $403.00 to $393.00 and set an “outperform” rating for the company in a report on Friday, March 2nd. Finally, Guggenheim set a $400.00 price target on Biogen and gave the stock a “buy” rating in a report on Friday, March 2nd. Ten analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and a consensus target price of $353.18.
In related news, Director Alexander J. Denner purchased 48,000 shares of Biogen stock in a transaction on Wednesday, April 25th. The shares were bought at an average price of $269.91 per share, with a total value of $12,955,680.00. Following the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at $2,706,927.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.
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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