Alberta Investment Management Corp lifted its stake in Biogen Inc (NASDAQ:BIIB) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,300 shares of the biotechnology company’s stock after purchasing an additional 900 shares during the quarter. Alberta Investment Management Corp owned 0.06% of Biogen worth $24,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Trustcore Financial Services LLC grew its position in Biogen by 152.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 67 shares during the last quarter. Resources Investment Advisors Inc. lifted its stake in shares of Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Weaver Consulting Group purchased a new stake in shares of Biogen during the 1st quarter worth $28,000. Ruggie Capital Group purchased a new stake in Biogen in the second quarter valued at about $33,000. Finally, JJJ Advisors Inc. purchased a new stake in Biogen in the second quarter valued at about $35,000. 86.18% of the stock is owned by hedge funds and other institutional investors.
Biogen stock traded up $0.21 on Friday, reaching $223.21. 2,225,092 shares of the stock were exchanged, compared to its average volume of 1,684,315. The firm has a fifty day moving average price of $228.42 and a two-hundred day moving average price of $231.27. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $344.00. The stock has a market cap of $41.17 billion, a PE ratio of 8.52, a PEG ratio of 1.12 and a beta of 1.02. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm posted $5.80 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Biogen Inc will post 32.37 EPS for the current fiscal year.
BIIB has been the subject of several research analyst reports. Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a research note on Friday, July 26th. ValuEngine raised Biogen from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $242.00 price objective on Biogen and gave the stock a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. set a $244.00 target price on Biogen and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Canaccord Genuity boosted their target price on Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four equities 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 stock. The stock presently has an average rating of “Hold” and an average price target of $270.09.
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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