6,947 Shares in Biogen Inc (NASDAQ:BIIB) Purchased by Hammer Asset Management LLC

Hammer Asset Management LLC acquired a new position in Biogen Inc (NASDAQ:BIIB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,947 shares of the biotechnology company’s stock, valued at approximately $1,625,000.

A number of other hedge funds have also recently bought and sold shares of BIIB. AQR Capital Management LLC boosted its holdings in Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock worth $991,793,000 after buying an additional 1,063,775 shares during the last quarter. Boston Partners boosted its holdings in Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock worth $218,113,000 after buying an additional 746,711 shares during the last quarter. Parnassus Investments CA boosted its holdings in Biogen by 80.0% in the 1st quarter. Parnassus Investments CA now owns 630,000 shares of the biotechnology company’s stock worth $148,919,000 after buying an additional 280,000 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Biogen by 121.6% in the 1st quarter. SG Americas Securities LLC now owns 44,081 shares of the biotechnology company’s stock worth $10,420,000 after buying an additional 248,369 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in Biogen by 57.7% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 667,753 shares of the biotechnology company’s stock worth $157,843,000 after buying an additional 244,326 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

BIIB has been the topic of several research analyst reports. Standpoint Research upgraded Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Canaccord Genuity boosted their target price on Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup restated a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Mizuho restated a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Finally, BidaskClub cut Biogen from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company. Biogen presently has an average rating of “Hold” and an average price target of $269.74.

BIIB traded down $0.46 during trading hours on Thursday, reaching $232.72. The company’s stock had a trading volume of 300,962 shares, compared to its average volume of 1,347,337. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $358.41. The stock has a market cap of $43.48 billion, a PE ratio of 8.88, a P/E/G ratio of 0.86 and a beta of 0.99. The business’s 50-day moving average is $234.88 and its 200-day moving average is $253.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the firm posted $5.80 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Biogen Inc will post 32.41 EPS for the current year.

Biogen Profile

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

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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