2,608 Shares in Biogen Inc (BIIB) Acquired by Dakota Wealth Management
Dakota Wealth Management acquired a new position in Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,608 shares of the biotechnology company’s stock, valued at approximately $921,000.
Several other institutional investors also recently made changes to their positions in BIIB. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Biogen in the third quarter worth $107,000. Adviser Investments LLC grew its stake in shares of Biogen by 745.7% in the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 343 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Biogen in the third quarter worth $133,000. Harvest Fund Management Co. Ltd grew its stake in shares of Biogen by 122.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 211 shares during the last quarter. Finally, Kaizen Advisory LLC grew its stake in shares of Biogen by 145.8% in the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds own 88.01% of the company’s stock.
BIIB has been the topic of several research analyst reports. UBS Group raised their price objective on shares of Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Guggenheim restated a “buy” rating and issued a $410.00 price objective on shares of Biogen in a research note on Tuesday, July 24th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Cowen reaffirmed a “buy” rating and issued a $408.00 target price on shares of Biogen in a research report on Tuesday, July 24th. Finally, Mizuho reaffirmed a “buy” rating and issued a $423.00 target price on shares of Biogen in a research report on Tuesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Biogen currently has an average rating of “Buy” and an average price target of $383.01.
Shares of NASDAQ BIIB opened at $319.08 on Wednesday. The firm has a market cap of $64.25 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.23 and a beta of 1.01. Biogen Inc has a 52-week low of $249.17 and a 52-week high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $6.31 earnings per share. As a group, sell-side analysts predict that Biogen Inc will post 25.79 earnings per share for the current year.
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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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