Biogen Inc (BIIB) Position Boosted by Chicago Equity Partners LLC

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Chicago Equity Partners LLC boosted its stake in Biogen Inc (NASDAQ:BIIB) by 11.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,104 shares of the biotechnology company’s stock after buying an additional 1,489 shares during the period. Chicago Equity Partners LLC’s holdings in Biogen were worth $4,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. LeJeune Puetz Investment Counsel LLC bought a new position in Biogen in the 3rd quarter valued at about $107,000. Adviser Investments LLC boosted its position in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 343 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of Biogen during the 3rd quarter valued at about $133,000. Harvest Fund Management Co. Ltd boosted its position in shares of Biogen by 122.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 211 shares in the last quarter. Finally, Kaizen Advisory LLC boosted its position in shares of Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

BIIB stock opened at $320.28 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The stock has a market cap of $63.00 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.24 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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 net margin of 24.08% and a return on equity of 38.70%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $6.31 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Biogen Inc will post 25.6 EPS for the current year.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on BIIB. Citigroup reduced their price objective on shares of Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a research report on Monday, October 8th. BidaskClub lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Barclays raised their price objective on shares of Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Oppenheimer set a $380.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Sunday, October 28th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $383.01.

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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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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