Cable Hill Partners LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 224.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 487 shares of the biotechnology company’s stock after acquiring an additional 337 shares during the quarter. Cable Hill Partners LLC’s holdings in Biogen were worth $152,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Enterprise Financial Services Corp lifted its position in shares of Biogen by 2,469.4% in the third quarter. Enterprise Financial Services Corp now owns 925 shares of the biotechnology company’s stock valued at $290,000 after acquiring an additional 889 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Biogen in the third quarter valued at approximately $203,000. Victory Capital Management Inc. lifted its position in shares of Biogen by 7.2% in the third quarter. Victory Capital Management Inc. now owns 8,433 shares of the biotechnology company’s stock valued at $2,641,000 after acquiring an additional 570 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of Biogen by 18.0% in the third quarter. OLD National Bancorp IN now owns 1,205 shares of the biotechnology company’s stock valued at $377,000 after acquiring an additional 184 shares in the last quarter. Finally, Traynor Capital Management Inc. lifted its position in shares of Biogen by 6.7% in the third quarter. Traynor Capital Management Inc. now owns 5,383 shares of the biotechnology company’s stock valued at $1,670,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Shares of Biogen Inc. (BIIB) traded up 1.5336% during mid-day trading on Wednesday, reaching $316.4396. The company’s stock had a trading volume of 252,045 shares. The firm has a 50-day moving average of $323.15 and a 200-day moving average of $288.16. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $348.84. The firm has a market capitalization of $66.91 billion, a PE ratio of 20.7651 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $5.19 earnings per share. Equities research analysts forecast that Biogen Inc. will post $21.65 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on the company. Canaccord Genuity assumed coverage on Biogen in a research report on Friday, October 27th. They issued a “hold” rating and a $340.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $340.00 target price on shares of Biogen in a research report on Wednesday, October 25th. Royal Bank Of Canada decreased their target price on Biogen from $315.00 to $313.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 25th. UBS AG lifted their price objective on Biogen from $285.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets upgraded Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price objective on the stock in a research report on Wednesday, October 25th. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $341.25.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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