Oakworth Capital Inc. increased its position in shares of Biogen Inc (NASDAQ:BIIB) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,280 shares of the biotechnology company’s stock after buying an additional 131 shares during the quarter. Oakworth Capital Inc.’s holdings in Biogen were worth $299,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new stake in shares of Biogen in the second quarter worth approximately $2,380,000. Hillsdale Investment Management Inc. grew its holdings in shares of Biogen by 21.2% in the second quarter. Hillsdale Investment Management Inc. now owns 1,715 shares of the biotechnology company’s stock valued at $402,000 after acquiring an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Biogen by 8.1% in the second quarter. GHP Investment Advisors Inc. now owns 1,344 shares of the biotechnology company’s stock valued at $314,000 after acquiring an additional 101 shares in the last quarter. Employers Holdings Inc. bought a new position in shares of Biogen in the second quarter valued at approximately $351,000. Finally, Next Capital Management LLC grew its holdings in shares of Biogen by 101.3% in the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 76 shares in the last quarter. 91.11% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ BIIB traded up $4.05 on Friday, hitting $231.68. 953,900 shares of the stock traded hands, compared to its average volume of 1,370,136. The business’s fifty day moving average is $235.12 and its two-hundred day moving average is $255.06. Biogen Inc has a 12 month low of $216.12 and a 12 month high of $358.41. The firm has a market capitalization of $41.99 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46.
BIIB has been the subject of several recent analyst reports. Wedbush initiated coverage on Biogen in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 target price for the company. Argus reaffirmed a “hold” rating on shares of Biogen in a report on Tuesday, May 7th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday, April 24th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a report on Friday, July 26th. Finally, BidaskClub lowered Biogen from a “hold” rating to a “sell” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $269.74.
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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