Columbus Macro LLC Reduces Position in Biogen Inc (NASDAQ:BIIB)

Share on StockTwits

Columbus Macro LLC cut its position in shares of Biogen Inc (NASDAQ:BIIB) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,520 shares of the biotechnology company’s stock after selling 282 shares during the period. Columbus Macro LLC’s holdings in Biogen were worth $354,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Biogen by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock worth $580,717,000 after purchasing an additional 851,263 shares during the period. Boston Partners boosted its position in Biogen by 70.1% in the 2nd quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock valued at $367,141,000 after buying an additional 647,141 shares during the period. UBS Asset Management Americas Inc. boosted its position in Biogen by 6.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,380,379 shares of the biotechnology company’s stock valued at $322,829,000 after buying an additional 84,065 shares during the period. Nuveen Asset Management LLC boosted its position in Biogen by 506.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock valued at $308,493,000 after buying an additional 1,101,563 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Biogen by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,097,770 shares of the biotechnology company’s stock valued at $256,735,000 after buying an additional 45,881 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:BIIB traded up $5.82 during trading hours on Thursday, hitting $284.64. The company’s stock had a trading volume of 306,846 shares, compared to its average volume of 2,862,664. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 2.22. The company has a market capitalization of $51.99 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.53 and a beta of 1.02. The firm’s fifty day moving average price is $230.88 and its 200 day moving average price is $231.42. Biogen Inc has a 52 week low of $215.77 and a 52 week high of $344.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the consensus estimate of $8.27 by $0.90. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. Biogen’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.40 EPS. On average, equities research analysts predict that Biogen Inc will post 32.4 earnings per share for the current fiscal year.

Several research firms have issued reports on BIIB. Svb Leerink raised shares of Biogen from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $256.00 to $350.00 in a research report on Wednesday. Guggenheim raised shares of Biogen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $256.00 to $365.00 in a research report on Wednesday. Oppenheimer set a $280.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on shares of Biogen from $236.00 to $296.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, BidaskClub cut shares of Biogen from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the stock. Biogen currently has an average rating of “Hold” and an average price target of $288.33.

About Biogen

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.

Featured Article: How to identify percentage decliners

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Zacks: BCB Bancorp, Inc.  Given Consensus Recommendation of “Buy” by Analysts
Zacks: BCB Bancorp, Inc. Given Consensus Recommendation of “Buy” by Analysts
Wells Fargo & Co Increases Greif  Price Target to $46.00
Wells Fargo & Co Increases Greif Price Target to $46.00
Hartford Financial Services Group  Downgraded by Royal Bank of Canada
Hartford Financial Services Group Downgraded by Royal Bank of Canada
Jeld-Wen  Earns Neutral Rating from Analysts at Goldman Sachs Group
Jeld-Wen Earns Neutral Rating from Analysts at Goldman Sachs Group
Installed Building Products  Now Covered by Goldman Sachs Group
Installed Building Products Now Covered by Goldman Sachs Group
SINGAPORE AIRL/ADR  Stock Price Down 2.5%
SINGAPORE AIRL/ADR Stock Price Down 2.5%


© 2006-2019 Ticker Report