Bronfman E.L. Rothschild L.P. trimmed its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,252 shares of the biotechnology company’s stock after selling 158 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Biogen were worth $654,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. Rainier Group Investment Advisory LLC bought a new stake in shares of Biogen during the 1st quarter worth $100,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Biogen during the 1st quarter worth $105,000. Certified Advisory Corp raised its stake in shares of Biogen by 445.2% during the 1st quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 325 shares during the period. McKinley Carter Wealth Services Inc. bought a new stake in shares of Biogen during the 1st quarter worth $110,000. Finally, Adviser Investments LLC raised its stake in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 343 shares during the period. Institutional investors own 89.41% of the company’s stock.
BIIB stock opened at $344.11 on Tuesday. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $69.54 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.33 and a beta of 0.89. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.22 by $0.58. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.04 EPS. sell-side analysts expect that Biogen Inc will post 25.36 EPS for the current fiscal year.
BIIB has been the topic of a number of recent analyst reports. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Credit Suisse Group set a $384.00 price objective on Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Cowen reissued a “buy” rating and issued a $408.00 price objective on shares of Biogen in a report on Tuesday, April 24th. BidaskClub raised Biogen from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Finally, Citigroup decreased their price objective on Biogen from $360.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, May 2nd. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $374.50.
Biogen Company Profile
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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