AE Wealth Management LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 34.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,085 shares of the biotechnology company’s stock after purchasing an additional 277 shares during the period. AE Wealth Management LLC’s holdings in Biogen were worth $307,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in BIIB. Bbva USA bought a new position in Biogen during the second quarter valued at about $40,000. Bessemer Group Inc. grew its position in Biogen by 12.0% during the second quarter. Bessemer Group Inc. now owns 2,411 shares of the biotechnology company’s stock valued at $834,000 after buying an additional 259 shares during the period. Parallel Advisors LLC grew its position in Biogen by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,170 shares of the biotechnology company’s stock valued at $751,000 after buying an additional 197 shares during the period. Western Wealth Management LLC grew its position in Biogen by 10.0% during the second quarter. Western Wealth Management LLC now owns 1,147 shares of the biotechnology company’s stock valued at $397,000 after buying an additional 104 shares during the period. Finally, Regal Investment Advisors LLC bought a new position in Biogen during the second quarter valued at about $758,000. Institutional investors own 84.20% of the company’s stock.
Several equities analysts recently weighed in on the stock. TheStreet lowered shares of Biogen from a “b-” rating to a “c+” rating in a research report on Monday, October 4th. Needham & Company LLC initiated coverage on shares of Biogen in a research report on Tuesday, October 19th. They set a “buy” rating and a $399.00 target price for the company. Wells Fargo & Company increased their target price on shares of Biogen from $250.00 to $284.00 in a research report on Thursday, December 30th. Stifel Nicolaus cut their target price on shares of Biogen from $430.00 to $344.00 and set a “buy” rating for the company in a research report on Friday, October 15th. Finally, Barclays cut their target price on shares of Biogen from $395.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, October 8th. Fifteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $353.12.
BIIB stock opened at $244.14 on Tuesday. The company has a market capitalization of $35.86 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.44. Biogen Inc. has a one year low of $221.72 and a one year high of $468.55. The company’s 50 day moving average price is $249.12 and its two-hundred day moving average price is $296.40. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.70.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 EPS for the quarter, topping the consensus estimate of $4.09 by $0.68. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.67 billion. Biogen had a net margin of 13.93% and a return on equity of 28.36%. The business’s revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted $8.84 earnings per share. On average, research analysts predict that Biogen Inc. will post 19.17 EPS for the current year.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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