Envestnet Asset Management Inc. Grows Position in Biogen Inc. (BIIB)

Envestnet Asset Management Inc. increased its position in Biogen Inc. (NASDAQ:BIIB) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,665 shares of the biotechnology company’s stock after acquiring an additional 4,136 shares during the period. Envestnet Asset Management Inc.’s holdings in Biogen were worth $18,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prentiss Smith & Co. Inc. grew its holdings in shares of Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 50 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Biogen in the 3rd quarter worth approximately $128,000. Atlantic Trust LLC acquired a new stake in shares of Biogen in the 2nd quarter worth approximately $114,000. Massey Quick Simon & CO. LLC grew its holdings in Biogen by 84.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. grew its holdings in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Biogen Inc. (BIIB) opened at $319.87 on Wednesday. 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 $67,122.77, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.73. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company posted $5.19 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. sell-side analysts expect that Biogen Inc. will post 22.03 earnings per share for the current year.

BIIB has been the topic of a number of analyst reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a report on Thursday, August 10th. Goldman Sachs Group upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price on the stock in a report on Wednesday, August 16th. Robert W. Baird reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Mizuho reiterated a “neutral” rating and set a $319.00 target price (up previously from $274.00) on shares of Biogen in a report on Wednesday, September 13th. Twelve research 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. The stock has an average rating of “Buy” and an average target price of $344.60.

In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

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About Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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