IFM Investors Pty Ltd bought a new position in shares of Biogen Inc (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,030 shares of the biotechnology company’s stock, valued at approximately $1,888,000.

A number of other hedge funds also recently made changes to their positions in the business. New Amsterdam Partners LLC NY boosted its stake in Biogen by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after buying an additional 11 shares during the period. Bienville Capital Management LLC boosted its stake in Biogen by 2.2% during the second quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after buying an additional 19 shares during the period. Forbes J M & Co. LLP boosted its stake in Biogen by 0.6% during the second quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after buying an additional 19 shares during the period. People s United Financial Inc. boosted its stake in Biogen by 1.1% during the second quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock worth $616,000 after buying an additional 25 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Biogen by 0.3% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,512 shares of the biotechnology company’s stock worth $2,465,000 after buying an additional 28 shares during the period. 88.30% of the stock is owned by institutional investors.

Shares of Biogen Inc (NASDAQ:BIIB) opened at $327.75 on Wednesday. The firm has a market cap of $69,370.77, a P/E ratio of 15.19, a P/E/G ratio of 2.05 and a beta of 0.73. Biogen Inc has a 1-year low of $244.28 and a 1-year 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.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share 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 analysts’ expectations of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.19 earnings per share. equities analysts forecast that Biogen Inc will post 22.03 EPS for the current year.

In related news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Several research analysts have recently commented on BIIB shares. Citigroup lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective for the company. in a research note on Wednesday, August 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 12th. Finally, Robert W. Baird reissued a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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