Biogen Inc (BIIB) Position Lessened by Horan Capital Management

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Horan Capital Management lowered its position in shares of Biogen Inc (NASDAQ:BIIB) by 96.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 497 shares of the biotechnology company’s stock after selling 13,349 shares during the quarter. Horan Capital Management’s holdings in Biogen were worth $175,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Rainier Group Investment Advisory LLC purchased a new position in Biogen in the first quarter valued at approximately $100,000. Adviser Investments LLC grew its position in shares of Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after buying an additional 343 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Biogen during the third quarter worth approximately $133,000. Kaizen Advisory LLC grew its position in shares of Biogen by 145.8% during the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after buying an additional 296 shares in the last quarter. Finally, Gs Investments Inc. acquired a new stake in shares of Biogen during the second quarter worth approximately $145,000. Institutional investors own 88.01% of the company’s stock.

BIIB has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. BidaskClub raised Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Oppenheimer set a $380.00 price target on Biogen and gave the company a “buy” rating in a report on Sunday, October 28th. JPMorgan Chase & Co. reduced their price target on Biogen from $445.00 to $436.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Finally, Leerink Swann set a $340.00 target price on Biogen and gave the stock a “hold” rating in a report on Wednesday, October 24th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Biogen has a consensus rating of “Buy” and a consensus target price of $383.01.

Shares of BIIB stock opened at $324.05 on Friday. The firm has a market cap of $65.29 billion, a P/E ratio of 13.22, a PEG ratio of 1.25 and a beta of 1.01. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. Biogen’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.31 EPS. Equities research analysts expect that Biogen Inc will post 25.79 EPS for the current fiscal year.

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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

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About Biogen

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.

Further Reading: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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