Quantbot Technologies LP raised its stake in Biogen Inc. (NASDAQ:BIIB) by 1,761.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,909 shares of the biotechnology company’s stock after buying an additional 3,699 shares during the period. Quantbot Technologies LP’s holdings in Biogen were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the company. Abbrea Capital LLC purchased a new stake in shares of Biogen in the 3rd quarter worth approximately $222,000. Putnam FL Investment Management Co. acquired a new position in Biogen during the 3rd quarter valued at approximately $1,103,000. NBT Bank N A NY increased its stake in Biogen by 494.5% during the 3rd quarter. NBT Bank N A NY now owns 4,869 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 4,050 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Biogen by 9.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock valued at $1,862,000 after purchasing an additional 520 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Biogen by 30.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 259,175 shares of the biotechnology company’s stock valued at $81,143,000 after purchasing an additional 59,854 shares in the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on BIIB shares. Oppenheimer Holdings, Inc. started coverage on shares of Biogen in a report on Thursday, November 9th. They set an “outperform” rating and a $350.00 price target on the stock. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Monday, November 13th. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective on the stock in a report on Thursday, August 10th. Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a research report on Wednesday, August 16th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $341.89.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $5.19 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. equities research analysts forecast that Biogen Inc. will post 22.03 EPS for the current fiscal year.
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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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