Biogen Inc (NASDAQ:BIIB) Shares Purchased by Private Ocean LLC

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Private Ocean LLC boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 162.5% during the third quarter, HoldingsChannel reports. The fund owned 210 shares of the biotechnology company’s stock after buying an additional 130 shares during the period. Private Ocean LLC’s holdings in Biogen were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Eagle Asset Management Inc. acquired a new position in Biogen in the third quarter valued at approximately $2,415,000. Bourgeon Capital Management LLC acquired a new position in Biogen in the third quarter valued at approximately $30,000. Alps Advisors Inc. lifted its holdings in Biogen by 24.9% in the third quarter. Alps Advisors Inc. now owns 1,529 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 305 shares during the last quarter. Unigestion Holding SA lifted its holdings in Biogen by 38.4% in the third quarter. Unigestion Holding SA now owns 5,479 shares of the biotechnology company’s stock valued at $1,276,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Biogen by 16.0% in the third quarter. Daiwa Securities Group Inc. now owns 9,938 shares of the biotechnology company’s stock valued at $2,314,000 after purchasing an additional 1,368 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.

A number of analysts have issued reports on the company. William Blair reissued a “hold” rating on shares of Biogen in a research report on Friday, October 25th. Credit Suisse Group boosted their target price on Biogen from $203.00 to $260.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. TheStreet raised Biogen from a “c+” rating to a “b” rating in a research report on Tuesday, October 29th. BidaskClub lowered Biogen from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Mizuho reissued a “hold” rating and issued a $235.00 target price on shares of Biogen in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $288.33.

Shares of Biogen stock traded up $6.38 during trading hours on Friday, reaching $293.25. 1,476,900 shares of the company were exchanged, compared to its average volume of 1,920,335. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. The stock’s fifty day moving average is $251.07 and its 200 day moving average is $236.17. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $344.00. The firm has a market cap of $52.72 billion, a PE ratio of 11.19, a PEG ratio of 1.58 and a beta of 1.07.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share for the quarter, beating the consensus estimate of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the business earned $7.40 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that Biogen Inc will post 33.19 earnings per share for the current year.

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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