Oregon Public Employees Retirement Fund boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,620 shares of the biotechnology company’s stock after purchasing an additional 287 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Biogen were worth $18,238,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Biogen during the third quarter valued at approximately $107,000. Adviser Investments LLC boosted its position in shares of Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares during the last quarter. NEXT Financial Group Inc purchased a new position in shares of Biogen during the third quarter valued at approximately $133,000. Kaizen Advisory LLC boosted its position in shares of Biogen by 145.8% during the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 296 shares during the last quarter. Finally, Gs Investments Inc. purchased a new position in shares of Biogen during the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 87.74% of the company’s stock.
In other news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the firm earned $6.31 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts expect that Biogen Inc will post 25.58 EPS for the current fiscal year.
BIIB has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of Biogen in a research report on Monday, October 1st. Oppenheimer set a $400.00 target price on Biogen and gave the company a “buy” rating in a research report on Sunday, September 16th. BidaskClub raised Biogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Citigroup cut their price objective on Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. Finally, Morgan Stanley cut their price objective on Biogen from $369.00 to $366.00 and set an “overweight” rating on the stock in a research report on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $383.01.
Biogen Company Profile
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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