Park Avenue Securities LLC Takes Position in Biogen Inc (BIIB)

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Park Avenue Securities LLC acquired a new position in shares of Biogen Inc (NASDAQ:BIIB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 626 shares of the biotechnology company’s stock, valued at approximately $221,000.

Other institutional investors also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC bought a new stake in shares of Biogen during the 3rd quarter worth approximately $107,000. Adviser Investments LLC raised its stake in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 343 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Biogen during the 3rd quarter worth approximately $133,000. Harvest Fund Management Co. Ltd raised its stake in shares of Biogen by 122.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 211 shares in the last quarter. Finally, Kaizen Advisory LLC raised its stake in shares of Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 296 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.

BIIB opened at $325.20 on Friday. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $66.79 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $6.31 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Biogen Inc will post 25.71 earnings per share for the current year.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

A number of brokerages have recently issued reports on BIIB. Citigroup dropped their price objective on Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. BidaskClub cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Barclays upped their price objective on Biogen from $295.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 25th. ValuEngine upgraded Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Oppenheimer set a $380.00 price target on Biogen and gave the company a “buy” rating in a research note on Sunday, October 28th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $383.01.

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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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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