Avestar Capital LLC boosted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 13.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,428 shares of the biotechnology company’s stock after buying an additional 287 shares during the quarter. Avestar Capital LLC’s holdings in Biogen were worth $685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. Rainier Group Investment Advisory LLC bought a new position in shares of Biogen in the 1st quarter worth about $100,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Biogen in the 1st quarter worth about $105,000. Certified Advisory Corp raised its position in shares of Biogen by 445.2% in the 1st quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock worth $108,000 after acquiring an additional 325 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Biogen in the 1st quarter worth about $110,000. Finally, Adviser Investments LLC raised its position in shares of Biogen by 745.7% in the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares in the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BIIB opened at $352.74 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06. The company has a market cap of $69.03 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.32 and a beta of 0.89. Biogen Inc has a 52 week low of $249.17 and a 52 week high of $388.67.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $5.22 by $0.58. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.04 EPS. analysts expect that Biogen Inc will post 25.34 EPS for the current year.

A number of analysts recently commented on BIIB shares. Cantor Fitzgerald set a $293.00 target price on Biogen and gave the company a “hold” rating in a research report on Wednesday, July 25th. UBS Group boosted their target price on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Citigroup boosted their target price on Biogen to $483.00 and gave the company a “positive” rating in a research report on Thursday, July 26th. Barclays boosted their target price on Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. Finally, Robert W. Baird boosted their target price on Biogen from $323.00 to $348.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Biogen currently has an average rating of “Buy” and a consensus price target of $374.50.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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