Kornitzer Capital Management Inc. KS Reduces Holdings in Biogen Inc (NASDAQ:BIIB)

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Kornitzer Capital Management Inc. KS trimmed its position in shares of Biogen Inc (NASDAQ:BIIB) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,376 shares of the biotechnology company’s stock after selling 531 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Biogen were worth $3,362,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its stake in Biogen by 96.0% during the second quarter. CWM LLC now owns 823 shares of the biotechnology company’s stock worth $192,000 after buying an additional 403 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Biogen by 4.2% in the 2nd quarter. Janus Henderson Group PLC now owns 81,395 shares of the biotechnology company’s stock valued at $19,036,000 after purchasing an additional 3,281 shares during the last quarter. Sage Capital Advisors llc lifted its stake in shares of Biogen by 552.0% in the 2nd quarter. Sage Capital Advisors llc now owns 6,670 shares of the biotechnology company’s stock valued at $1,549,000 after purchasing an additional 5,647 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Biogen in the 2nd quarter valued at $47,000. Finally, AGF Investments LLC lifted its stake in shares of Biogen by 3.0% in the 2nd quarter. AGF Investments LLC now owns 11,187 shares of the biotechnology company’s stock valued at $2,616,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 91.11% of the company’s stock.

BIIB opened at $229.24 on Friday. The stock’s 50-day moving average price is $235.30 and its 200 day moving average price is $255.18. Biogen Inc has a 12-month low of $216.12 and a 12-month high of $358.41. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The firm has a market cap of $43.02 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.86 and a beta of 0.99.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the prior year, the company earned $5.80 EPS. Biogen’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Biogen Inc will post 32.41 earnings per share for the current year.

Several equities analysts have recently commented on the company. Canaccord Genuity upped their price target on Biogen from $275.00 to $285.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Credit Suisse Group assumed coverage on Biogen in a research note on Monday, May 20th. They issued an “underperform” rating and a $198.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Biogen in a research note on Wednesday, April 24th. Wedbush assumed coverage on Biogen in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price target on the stock. Finally, Oppenheimer set a $290.00 price target on Biogen and gave the company a “buy” rating in a research note on Sunday, May 5th. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $269.74.

Biogen Company 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 the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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