Ameriprise Financial Inc. Raises Holdings in Biogen Inc. (BIIB)

Ameriprise Financial Inc. grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 35.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,309,394 shares of the biotechnology company’s stock after purchasing an additional 600,384 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.09% of Biogen worth $723,142,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Carroll Financial Associates Inc. grew its holdings in shares of Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the last quarter. RMB Capital Management LLC grew its holdings in shares of Biogen by 1.1% during the first quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock worth $223,000 after buying an additional 9 shares during the last quarter. New Amsterdam Partners LLC NY grew its holdings in shares of Biogen by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 1,471 shares of the biotechnology company’s stock worth $399,000 after buying an additional 11 shares during the last quarter. Alta Capital Management LLC grew its holdings in shares of Biogen by 0.8% during the second quarter. Alta Capital Management LLC now owns 1,880 shares of the biotechnology company’s stock worth $510,000 after buying an additional 15 shares during the last quarter. Finally, Bienville Capital Management LLC grew its holdings in shares of Biogen by 2.2% during the second quarter. Bienville Capital Management LLC now owns 880 shares of the biotechnology company’s stock worth $239,000 after buying an additional 19 shares during the last quarter. 88.28% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the company. Bank of America Corporation lifted their price objective on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Citigroup Inc. lowered Biogen from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $390.00 price objective on shares of Biogen in a report on Monday, October 23rd. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and lifted their price objective for the company from $300.00 to $415.00 in a report on Tuesday, October 17th. Finally, Mizuho upgraded shares of Biogen from a “neutral” rating to a “buy” rating and lifted their price target for the company from $319.00 to $400.00 in a research report on Tuesday, October 17th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $341.89.

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Biogen Inc. (NASDAQ BIIB) traded down $1.78 during trading on Tuesday, hitting $307.68. 266,450 shares of the stock traded hands, compared to its average volume of 1,410,000. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $65,070.00, a PE ratio of 14.54, a PEG ratio of 1.96 and a beta of 0.72. Biogen Inc. has a twelve month low of $244.28 and a twelve month high of $348.84.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the firm posted $5.19 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. equities research analysts forecast that Biogen Inc. will post 22.03 earnings per share for the current year.

Biogen 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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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