Intellectus Partners LLC Boosts Stock Position in Biogen Inc (NASDAQ:BIIB)

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Intellectus Partners LLC raised its stake in Biogen Inc (NASDAQ:BIIB) by 32.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,356 shares of the biotechnology company’s stock after purchasing an additional 581 shares during the period. Intellectus Partners LLC’s holdings in Biogen were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Trustcore Financial Services LLC boosted its holdings in Biogen by 152.3% in the second quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 67 shares in the last quarter. Weaver Consulting Group acquired a new stake in Biogen in the first quarter worth about $28,000. Ruggie Capital Group acquired a new stake in Biogen in the second quarter worth about $33,000. JJJ Advisors Inc. acquired a new stake in Biogen in the second quarter worth about $35,000. Finally, Next Capital Management LLC boosted its holdings in Biogen by 101.3% in the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 76 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on BIIB shares. ValuEngine raised Biogen from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Cowen reissued a “buy” rating and issued a $275.00 price target on shares of Biogen in a report on Tuesday, July 30th. BidaskClub downgraded Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. set a $244.00 price target on Biogen and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada set a $242.00 price target on Biogen and gave the stock a “hold” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $270.09.

Biogen stock opened at $223.21 on Friday. 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 52 week low of $215.77 and a 52 week high of $344.00. The company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The stock has a 50-day moving average price of $228.42 and a 200 day moving average price of $231.27.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, topping the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the company posted $5.80 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Biogen Inc will post 32.37 EPS for the current fiscal year.

Biogen Profile

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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