Icon Wealth Partners LLC boosted its stake in Biogen Inc (NASDAQ:BIIB) by 18.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,855 shares of the biotechnology company’s stock after acquiring an additional 292 shares during the period. Icon Wealth Partners LLC’s holdings in Biogen were worth $538,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of BIIB. Rainier Group Investment Advisory LLC purchased a new stake in shares of Biogen during the 1st quarter worth approximately $100,000. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Biogen during the 1st quarter worth approximately $105,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Biogen during the 1st quarter worth approximately $110,000. Adviser Investments LLC boosted 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 acquiring an additional 343 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Biogen by 141.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 503 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.
BIIB has been the topic of several research analyst reports. ValuEngine raised Biogen from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Canaccord Genuity raised Biogen from a “hold” rating to a “buy” rating and reduced their target price for the company from $350.00 to $335.00 in a research note on Thursday, May 31st. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Mizuho set a $423.00 target price on Biogen and gave the company a “buy” rating in a research note on Tuesday, June 5th. Finally, Citigroup raised Biogen from a “neutral” rating to a “buy” rating and set a $371.00 target price on the stock in a research note on Friday, July 6th. Nine research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average target price of $374.50.
Shares of BIIB opened at $349.19 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06. The firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.58. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. Biogen’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.04 EPS. analysts forecast that Biogen Inc will post 25.34 EPS for the current year.
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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