Kovitz Investment Group Partners LLC boosted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 18,732 shares of the biotechnology company’s stock after acquiring an additional 76 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Biogen were worth $4,381,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Trustcore Financial Services LLC boosted its position in Biogen by 152.3% during the second quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 67 shares during the period. Resources Investment Advisors Inc. boosted its position in Biogen by 500.0% during the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Weaver Consulting Group bought a new stake in Biogen during the first quarter worth approximately $28,000. Ruggie Capital Group bought a new stake in Biogen during the second quarter worth approximately $33,000. Finally, JJJ Advisors Inc. bought a new stake in Biogen during the second quarter worth approximately $35,000. 86.17% of the stock is owned by hedge funds and other institutional investors.
Shares of BIIB stock traded up $4.00 during trading hours on Monday, reaching $234.22. 35,077 shares of the company’s stock were exchanged, compared to its average volume of 1,537,173. The business has a fifty day moving average price of $230.40 and a 200-day moving average price of $236.45. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $42.46 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.17 and a beta of 1.01. Biogen Inc has a fifty-two week low of $215.77 and a fifty-two week high of $358.41.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.80 earnings per share. As a group, research analysts expect that Biogen Inc will post 32.38 EPS for the current fiscal year.
BIIB has been the subject of a number of recent analyst reports. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Cowen reiterated a “buy” rating and set a $275.00 price target on shares of Biogen in a report on Tuesday, July 30th. Standpoint Research upgraded Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Royal Bank of Canada set a $242.00 price target on Biogen and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. set a $244.00 price target on Biogen and gave the stock a “hold” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $270.00.
Biogen Company 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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