Retirement Systems of Alabama boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,949 shares of the biotechnology company’s stock after acquiring an additional 16,676 shares during the period. Retirement Systems of Alabama owned 0.08% of Biogen worth $50,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Guardian Life Insurance Co. of America raised its stake in Biogen by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 6 shares during the period. Carroll Financial Associates Inc. raised its stake in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 6 shares during the period. RMB Capital Management LLC raised its stake in Biogen by 1.1% in the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 9 shares during the period. New Amsterdam Partners LLC NY raised its stake in Biogen by 0.8% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock valued at $399,000 after acquiring an additional 11 shares during the period. Finally, Alta Capital Management LLC raised its stake in Biogen by 0.8% in the 2nd quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock valued at $510,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 88.35% of the company’s stock.

BIIB has been the topic of a number of research analyst reports. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research note on Tuesday, August 29th. ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $290.00 price target on shares of Biogen in a research note on Friday, August 25th. Mizuho reiterated a “neutral” rating and set a $319.00 price objective (up previously from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $354.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. Twelve analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $341.89.

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Shares of Biogen Inc. (BIIB) traded up $0.48 on Monday, hitting $310.44. The stock had a trading volume of 820,700 shares, compared to its average volume of 1,519,722. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $65,850.00, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the company earned $5.19 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. research analysts predict that Biogen Inc. will post 22.03 EPS for the current fiscal year.

Biogen Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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