626 Shares in Biogen Inc (BIIB) Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC bought a new position in shares of Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 626 shares of the biotechnology company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hugh Johnson Advisors LLC boosted its stake in Biogen by 2.4% in the second quarter. Hugh Johnson Advisors LLC now owns 6,092 shares of the biotechnology company’s stock valued at $1,768,000 after buying an additional 145 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Biogen by 2.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,332 shares of the biotechnology company’s stock valued at $1,548,000 after buying an additional 147 shares in the last quarter. Greatmark Investment Partners Inc. boosted its stake in Biogen by 4.7% in the second quarter. Greatmark Investment Partners Inc. now owns 3,475 shares of the biotechnology company’s stock valued at $1,009,000 after buying an additional 155 shares in the last quarter. Patton Albertson Miller Group LLC boosted its stake in Biogen by 4.0% in the second quarter. Patton Albertson Miller Group LLC now owns 4,453 shares of the biotechnology company’s stock valued at $1,292,000 after buying an additional 172 shares in the last quarter. Finally, 6 Meridian boosted its stake in Biogen by 0.9% in the second quarter. 6 Meridian now owns 19,503 shares of the biotechnology company’s stock valued at $5,661,000 after buying an additional 176 shares in the last quarter. 87.55% of the stock is currently owned by institutional investors.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares in the company, valued at $1,498,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Biogen stock opened at $325.20 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $66.79 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.31 and a beta of 1.01. Biogen Inc has a 12 month low of $249.17 and a 12 month high of $388.67.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the consensus estimate of $6.78 by $0.62. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $6.31 earnings per share. On average, research analysts anticipate that Biogen Inc will post 25.71 EPS for the current year.

Several research firms recently weighed in on BIIB. Cantor Fitzgerald set a $293.00 price objective on Biogen and gave the company a “hold” rating in a research note on Wednesday, July 25th. UBS Group raised their price objective on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Citigroup raised their price objective on Biogen to $483.00 and gave the company a “positive” rating in a research note on Thursday, July 26th. Robert W. Baird raised their price objective on Biogen from $323.00 to $348.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, Barclays raised their price objective on Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $383.01.

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Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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