November 10, 2019 at 3:02 pm

Biogen Inc (NASDAQ:BIIB) Stock Position Decreased by Keybank National Association OH

by

Keybank National Association OH lessened its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 9.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 14,572 shares of the biotechnology company’s stock after selling 1,503 shares during the quarter. Keybank National Association OH’s holdings in Biogen were worth $3,393,000 as of its most recent filing with the Securities & Exchange Commission.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in Biogen by 52.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock worth $580,717,000 after purchasing an additional 851,263 shares during the last quarter. Boston Partners grew its position in Biogen by 70.1% in the 2nd quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock worth $367,141,000 after purchasing an additional 647,141 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Biogen by 6.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,380,379 shares of the biotechnology company’s stock worth $322,829,000 after purchasing an additional 84,065 shares during the last quarter. Nuveen Asset Management LLC grew its position in Biogen by 506.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock worth $308,493,000 after purchasing an additional 1,101,563 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Biogen by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,097,770 shares of the biotechnology company’s stock worth $256,735,000 after purchasing an additional 45,881 shares during the last quarter. 88.52% of the stock is owned by institutional investors and hedge funds.

BIIB has been the subject of several recent analyst reports. Standpoint Research cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. BidaskClub cut shares of Biogen from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group upped their target price on shares of Biogen from $280.00 to $334.00 and gave the stock a “positive” rating in a research report on Tuesday, October 22nd. Cowen upped their target price on shares of Biogen from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Guggenheim upgraded shares of Biogen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $256.00 to $365.00 in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $288.33.

Shares of NASDAQ:BIIB traded up $6.38 during trading on Friday, reaching $293.25. The company had a trading volume of 1,476,900 shares, compared to its average volume of 1,920,335. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $344.00. The firm’s fifty day moving average is $251.07 and its 200 day moving average is $236.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. The firm has a market capitalization of $52.72 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.27 by $0.90. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.40 earnings per share. Equities analysts predict that Biogen Inc will post 33.19 earnings per share for the current fiscal year.

About Biogen

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.

Recommended Story: How to build a Fibonacci channel

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Leave a Comment

Your email address will not be published. Required fields are marked *