United Capital Financial Advisers LLC Raises Holdings in Biogen Inc (NASDAQ:BIIB)

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United Capital Financial Advisers LLC boosted its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 38.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,988 shares of the biotechnology company’s stock after buying an additional 26,360 shares during the quarter. United Capital Financial Advisers LLC owned approximately 0.05% of Biogen worth $22,215,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BIIB. Comerica Securities Inc. increased its holdings in Biogen by 18.9% during the fourth quarter. Comerica Securities Inc. now owns 2,207 shares of the biotechnology company’s stock valued at $664,000 after buying an additional 351 shares during the period. Geode Capital Management LLC grew its holdings in Biogen by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock worth $815,190,000 after purchasing an additional 144,464 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in Biogen by 21.5% in the first quarter. Cornerstone Advisors Inc. now owns 1,343 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 238 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Biogen by 9.7% in the first quarter. Victory Capital Management Inc. now owns 57,135 shares of the biotechnology company’s stock worth $13,506,000 after purchasing an additional 5,075 shares during the last quarter. Finally, Cetera Advisor Networks LLC grew its holdings in Biogen by 6.3% in the first quarter. Cetera Advisor Networks LLC now owns 3,076 shares of the biotechnology company’s stock worth $727,000 after purchasing an additional 182 shares during the last quarter. 86.55% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Biogen in a report on Friday, July 26th. Wedbush assumed coverage on shares of Biogen in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price target on the stock. Credit Suisse Group assumed coverage on shares of Biogen in a report on Monday, May 20th. They issued an “underperform” rating and a $198.00 price target on the stock. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Finally, Royal Bank of Canada set a $242.00 price target on shares of Biogen and gave the stock a “hold” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $270.00.

Shares of BIIB traded up $4.24 during trading hours on Friday, reaching $236.55. 600,117 shares of the company traded hands, compared to its average volume of 1,160,677. The stock has a market capitalization of $42.98 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.86 and a beta of 1.01. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. Biogen Inc has a 12-month low of $215.77 and a 12-month high of $358.41. The business has a fifty day moving average price of $231.19 and a 200-day moving average price of $243.05.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.80 earnings per share. As a group, research analysts predict that Biogen Inc will post 32.38 EPS 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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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