Royal London Asset Management Ltd. bought a new position in shares of Biogen Inc (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 91,370 shares of the biotechnology company’s stock, valued at approximately $26,522,000.
Other hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new position in shares of Biogen during the first quarter worth $318,000. Neuberger Berman Group LLC boosted its position in shares of Biogen by 2.1% during the first quarter. Neuberger Berman Group LLC now owns 21,256 shares of the biotechnology company’s stock worth $5,824,000 after buying an additional 427 shares during the period. Canandaigua National Bank & Trust Co. purchased a new position in shares of Biogen during the first quarter worth $276,000. Oppenheimer Asset Management Inc. boosted its position in shares of Biogen by 16.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,328 shares of the biotechnology company’s stock worth $4,745,000 after buying an additional 2,483 shares during the period. Finally, Anchor Capital Advisors LLC purchased a new position in shares of Biogen during the first quarter worth $1,643,000. 87.46% of the stock is owned by institutional investors.
NASDAQ BIIB traded up $3.67 during trading on Friday, reaching $330.94. 1,022,669 shares of the company’s stock were exchanged, compared to its average volume of 1,633,890. The company has a market capitalization of $71.17 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.
BIIB has been the subject of several research analyst reports. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer set a $400.00 price target on Biogen and gave the stock a “buy” rating in a research report on Sunday, July 8th. UBS Group raised their price target on Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, Robert W. Baird lowered Biogen from an “outperform” rating to a “neutral” rating and set a $323.00 target price for the company. in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $381.31.
Biogen Company 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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