Biogen Inc (BIIB) Shares Bought by LSV Asset Management
LSV Asset Management lifted its position in Biogen Inc (NASDAQ:BIIB) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 780,502 shares of the biotechnology company’s stock after purchasing an additional 21,391 shares during the quarter. LSV Asset Management owned about 0.39% of Biogen worth $234,868,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. IMS Capital Management acquired a new stake in Biogen during the third quarter worth about $38,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Biogen during the fourth quarter worth about $40,000. Moody National Bank Trust Division acquired a new stake in Biogen during the fourth quarter worth about $41,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Biogen by 257.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 200 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 144 shares during the period. Finally, CWM LLC grew its holdings in Biogen by 112.3% during the fourth quarter. CWM LLC now owns 276 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 93.97% of the company’s stock.
Several analysts recently commented on the company. Citigroup raised their target price on Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, January 30th. Leerink Swann raised their target price on Biogen from $328.00 to $341.00 and gave the stock a “market perform” rating in a report on Wednesday, January 30th. Mizuho set a $427.00 target price on Biogen and gave the stock a “buy” rating in a report on Tuesday, January 29th. Stifel Nicolaus raised their target price on Biogen from $392.00 to $397.00 and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Oppenheimer set a $372.00 target price on Biogen and gave the stock a “buy” rating in a report on Friday, January 25th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $379.53.
NASDAQ BIIB opened at $317.51 on Monday. The company has a market capitalization of $61.99 billion, a PE ratio of 12.12, a PEG ratio of 1.06 and a beta of 1.13. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67. The company has a current ratio of 2.32, a quick ratio of 2.04 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.27. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.26 earnings per share. On average, research analysts predict that Biogen Inc will post 28.67 earnings per share for the current fiscal year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating 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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