Dillon & Associates Inc. grew its position in shares of Biogen Inc (NASDAQ:BIIB) by 17.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621 shares of the biotechnology company’s stock after purchasing an additional 397 shares during the quarter. Dillon & Associates Inc.’s holdings in Biogen were worth $760,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of BIIB. Rainier Group Investment Advisory LLC purchased a new stake in Biogen in the 1st quarter worth $100,000. Point72 Asia Hong Kong Ltd purchased a new stake in Biogen in the 1st quarter worth $105,000. Certified Advisory Corp increased its holdings in Biogen by 445.2% in the 1st quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock worth $108,000 after acquiring an additional 325 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new stake in Biogen in the 1st quarter worth $110,000. Finally, Adviser Investments LLC increased its holdings in Biogen by 745.7% in the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares in the last quarter. 91.34% of the stock is owned by hedge funds and other institutional investors.
Shares of BIIB opened at $345.22 on Friday. The stock has a market cap of $69.09 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.89. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.22 by $0.58. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.04 earnings per share. analysts predict that Biogen Inc will post 25.35 EPS for the current year.
Several equities research analysts recently commented on BIIB shares. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $375.00) on shares of Biogen in a report on Tuesday, April 24th. Mizuho set a $433.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Cowen reaffirmed a “buy” rating and set a $408.00 target price on shares of Biogen in a report on Tuesday, April 24th. Piper Jaffray Companies dropped their target price on shares of Biogen and set an “overweight” rating for the company in a report on Tuesday, April 24th. Finally, SunTrust Banks set a $321.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $374.50.
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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