Private Advisor Group LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,827 shares of the biotechnology company’s stock after acquiring an additional 1,368 shares during the period. Private Advisor Group LLC’s holdings in Biogen were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after purchasing an additional 415,099 shares during the period. Vanguard Group Inc. grew its holdings in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after purchasing an additional 182,337 shares during the period. State Street Corp grew its holdings in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after purchasing an additional 140,929 shares during the period. Clearbridge Investments LLC grew its holdings in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after purchasing an additional 351,224 shares during the period. Finally, FMR LLC grew its holdings in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after purchasing an additional 561,436 shares during the period. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) opened at $319.87 on Wednesday. Biogen Inc. has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market capitalization of $67,122.77, a P/E ratio of 14.70, a P/E/G ratio of 1.98 and a beta of 0.73. 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, 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 firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the business posted $5.19 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. analysts forecast that Biogen Inc. will post 22.03 EPS for the current year.

Several analysts have commented on the company. Oppenheimer set a $350.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday. J P Morgan Chase & Co set a $378.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday, November 27th. BMO Capital Markets reissued a “buy” rating and issued a $385.00 price objective on shares of Biogen in a report on Monday, November 27th. Sanford C. Bernstein set a $318.00 price objective on Biogen and gave the company a “buy” rating in a report on Tuesday, November 28th. Finally, Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a report on Monday, November 27th. Twelve investment 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’s stock. Biogen has an average rating of “Buy” and an average price target of $344.60.

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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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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