Dynamic Technology Lab Private Ltd grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 48.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,160 shares of the biotechnology company’s stock after buying an additional 380 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Biogen were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of BIIB. Contrarius Investment Management Ltd purchased a new stake in Biogen in the third quarter worth approximately $36,115,000. Macquarie Group Ltd. boosted its holdings in Biogen by 13.2% in the third quarter. Macquarie Group Ltd. now owns 698,232 shares of the biotechnology company’s stock worth $218,630,000 after purchasing an additional 81,495 shares during the last quarter. Buckingham Capital Management Inc. boosted its holdings in Biogen by 13.2% in the third quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock worth $853,000 after purchasing an additional 318 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Biogen by 35.1% in the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after purchasing an additional 600,384 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Biogen by 479.1% in the third quarter. SG Americas Securities LLC now owns 30,407 shares of the biotechnology company’s stock worth $9,521,000 after purchasing an additional 25,156 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

BIIB has been the topic of several research reports. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a report on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and issued a $279.00 target price on shares of Biogen in a report on Tuesday, October 24th. Royal Bank Of Canada restated a “hold” rating and issued a $315.00 target price on shares of Biogen in a report on Thursday, October 5th. Oppenheimer set a $350.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity initiated coverage on shares of Biogen in a report on Friday, October 27th. They issued a “hold” rating and a $340.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average target price of $344.32.

In other news, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Shares of Biogen Inc. (BIIB) opened at $319.35 on Friday. The company has a market cap of $68,131.52, a price-to-earnings ratio of 14.92, a PEG ratio of 2.01 and a beta of 0.73. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

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

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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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