Oppenheimer & Co. Inc. boosted its position in shares of Biogen Inc (NASDAQ:BIIB) by 3.4% in the first quarter, HoldingsChannel.com reports. The fund owned 11,261 shares of the biotechnology company’s stock after purchasing an additional 374 shares during the period. Oppenheimer & Co. Inc.’s holdings in Biogen were worth $2,661,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Biogen by 15.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,331 shares of the biotechnology company’s stock valued at $5,278,000 after buying an additional 2,932 shares during the period. Exane Derivatives boosted its stake in shares of Biogen by 710.7% in the 1st quarter. Exane Derivatives now owns 2,497 shares of the biotechnology company’s stock valued at $590,000 after buying an additional 2,189 shares during the period. First Quadrant L P CA boosted its stake in shares of Biogen by 14.2% in the 1st quarter. First Quadrant L P CA now owns 35,063 shares of the biotechnology company’s stock valued at $8,288,000 after buying an additional 4,372 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Biogen in the 1st quarter valued at about $846,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Biogen in the 1st quarter valued at about $113,000. Institutional investors own 89.16% of the company’s stock.
Several equities analysts have recently issued reports on BIIB shares. Cowen decreased their price objective on Biogen from $400.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, March 21st. Piper Jaffray Companies decreased their price objective on Biogen from $402.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Guggenheim set a $236.00 price objective on Biogen and gave the company a “hold” rating in a research note on Friday, March 22nd. Mizuho set a $427.00 price objective on Biogen and gave the company a “buy” rating in a research note on Tuesday, January 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $289.17.
BIIB stock opened at $230.53 on Friday. The company has a market cap of $44.70 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.04.
Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.10. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.05 earnings per share. As a group, sell-side analysts anticipate that Biogen Inc will post 29.38 earnings per share for the current fiscal year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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