Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 28.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 974 shares of the biotechnology company’s stock after purchasing an additional 218 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Biogen were worth $226,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC increased its stake in Biogen by 152.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. Weaver Consulting Group bought a new position in Biogen in the 1st quarter worth about $28,000. Ruggie Capital Group bought a new position in Biogen in the 2nd quarter worth about $33,000. JJJ Advisors Inc. bought a new position in Biogen in the 2nd quarter worth about $35,000. Finally, Next Capital Management LLC increased its stake in Biogen by 101.3% in the 2nd quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.
A number of equities analysts have weighed in on BIIB shares. ValuEngine upgraded Biogen from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Canaccord Genuity upped their price objective on Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Mizuho reiterated a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Piper Jaffray Companies reiterated a “hold” rating on shares of Biogen in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. set a $244.00 price objective on Biogen and gave the stock a “hold” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Biogen presently has a consensus rating of “Hold” and a consensus target price of $270.00.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $7.58 by $1.57. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.80 EPS. Analysts anticipate that Biogen Inc will post 32.38 EPS for the current year.
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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