Partnervest Advisory Services LLC Acquires New Shares in Biogen Inc (NASDAQ:BIIB)

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Partnervest Advisory Services LLC acquired a new stake in Biogen Inc (NASDAQ:BIIB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 914 shares of the biotechnology company’s stock, valued at approximately $213,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Securities Inc. increased its holdings in shares of Biogen by 18.9% during the fourth quarter. Comerica Securities Inc. now owns 2,207 shares of the biotechnology company’s stock valued at $664,000 after acquiring an additional 351 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Biogen by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after acquiring an additional 144,464 shares in the last quarter. CWM LLC increased its holdings in shares of Biogen by 52.2% during the first quarter. CWM LLC now owns 420 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 144 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Biogen during the first quarter valued at about $846,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Biogen by 38.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 71,318 shares of the biotechnology company’s stock valued at $16,858,000 after acquiring an additional 19,834 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

NASDAQ BIIB traded down $3.62 during trading hours on Tuesday, reaching $220.14. The stock had a trading volume of 42,148 shares, compared to its average volume of 1,164,077. The stock has a fifty day moving average of $234.00 and a 200 day moving average of $251.07. The stock has a market cap of $41.66 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 0.83 and a beta of 0.99. Biogen Inc has a 52-week low of $216.12 and a 52-week high of $358.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. Biogen’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.80 earnings per share. On average, equities research analysts forecast that Biogen Inc will post 32.41 EPS for the current year.

Several equities analysts have recently issued reports on BIIB shares. Oppenheimer set a $290.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Sunday, May 5th. Cowen restated a “buy” rating and set a $275.00 price objective on shares of Biogen in a report on Tuesday, July 30th. Standpoint Research upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a report on Friday, July 26th. Finally, Credit Suisse Group started coverage on shares of Biogen in a report on Monday, May 20th. They set an “underperform” rating and a $198.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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