Qube Research & Technologies Ltd purchased a new position in Biogen Inc (NASDAQ:BIIB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,176 shares of the biotechnology company’s stock, valued at approximately $2,380,000.
A number of other hedge funds have also made changes to their positions in BIIB. Trustcore Financial Services LLC lifted 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 valued at $26,000 after buying an additional 67 shares during the period. Resources Investment Advisors Inc. lifted 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 valued at $28,000 after buying an additional 100 shares during the period. Weaver Consulting Group purchased a new position in Biogen during the first quarter valued at $28,000. Private Ocean LLC purchased a new position in Biogen during the first quarter valued at $31,000. Finally, JJJ Advisors Inc. purchased a new position in Biogen during the second quarter valued at $35,000. 91.11% of the stock is owned by institutional investors.
Several equities analysts have commented on the company. Cowen reissued a “buy” rating and set a $275.00 price objective on shares of Biogen in a research report on Tuesday, July 30th. Barclays lowered their price objective on Biogen from $250.00 to $245.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Standpoint Research raised Biogen from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Thursday, May 23rd. Finally, Mizuho reissued a “hold” rating on shares of Biogen in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $269.74.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the company earned $5.80 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Biogen Inc will post 32.41 earnings per share for the current year.
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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