Campbell & CO Investment Adviser LLC Boosts Position in Biogen Inc (NASDAQ:BIIB)

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Campbell & CO Investment Adviser LLC boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 6.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,149 shares of the biotechnology company’s stock after buying an additional 73 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Biogen were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Auxier Asset Management raised its stake in shares of Biogen by 3.7% during the second quarter. Auxier Asset Management now owns 27,217 shares of the biotechnology company’s stock valued at $6,365,000 after purchasing an additional 960 shares during the period. Cornerstone Advisors Inc. raised its stake in shares of Biogen by 6.3% during the second quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock valued at $334,000 after purchasing an additional 84 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Biogen by 12.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,638 shares of the biotechnology company’s stock valued at $19,327,000 after purchasing an additional 9,094 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Biogen by 64.4% during the second quarter. Tower Research Capital LLC TRC now owns 7,157 shares of the biotechnology company’s stock valued at $1,674,000 after purchasing an additional 2,803 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Biogen during the second quarter valued at approximately $41,118,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

BIIB stock opened at $220.06 on Monday. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $344.00. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $41.61 billion, a P/E ratio of 8.40, a PEG ratio of 1.22 and a beta of 1.02. The firm has a 50 day simple moving average of $228.31 and a 200-day simple moving average of $231.11.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the company earned $5.80 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Biogen Inc will post 32.38 EPS for the current year.

A number of research firms have recently issued reports on BIIB. Cowen reiterated a “buy” rating and set a $275.00 price objective on shares of Biogen in a research note on Tuesday, July 30th. Bank of America began coverage on shares of Biogen in a research note on Wednesday, October 16th. They set an “underperform” rating and a $200.00 price objective on the stock. Oppenheimer set a $280.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. set a $244.00 price objective on shares of Biogen and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, ValuEngine upgraded shares of Biogen from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $263.52.

About Biogen

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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