Maverick Capital Ltd. Purchases New Holdings in Biogen Inc (NASDAQ:BIIB)

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Maverick Capital Ltd. bought a new position in shares of Biogen Inc (NASDAQ:BIIB) during the 3rd quarter, Holdings Channel.com reports. The fund bought 4,919 shares of the biotechnology company’s stock, valued at approximately $1,145,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trustcore Financial Services LLC increased its position in Biogen by 152.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 67 shares during the period. Bourgeon Capital Management LLC acquired a new stake in Biogen in the 3rd quarter valued at $30,000. Ruggie Capital Group acquired a new stake in Biogen in the 2nd quarter valued at $33,000. Next Capital Management LLC increased its holdings in Biogen by 101.3% in the 2nd quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 76 shares in the last quarter. Finally, Sandy Spring Bank increased its holdings in Biogen by 43.5% in the 3rd quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

Shares of BIIB stock opened at $299.81 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. Biogen Inc has a one year low of $215.77 and a one year high of $344.00. The company’s 50-day simple moving average is $275.73 and its 200-day simple moving average is $242.42. The stock has a market capitalization of $54.10 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.63 and a beta of 1.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the consensus estimate of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the company posted $7.40 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Biogen Inc will post 33.14 EPS for the current year.

Several analysts recently issued reports on the company. TheStreet upgraded Biogen from a “c+” rating to a “b” rating in a report on Tuesday, October 29th. Guggenheim upgraded Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $256.00 to $365.00 in a report on Wednesday, October 23rd. HC Wainwright increased their price target on Biogen from $300.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group increased their price target on Biogen from $280.00 to $334.00 and gave the company a “positive” rating in a report on Tuesday, October 22nd. Finally, Leerink Swann upgraded Biogen from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have issued a buy rating to the company. Biogen presently has a consensus rating of “Hold” and an average target price of $291.28.

Biogen Company 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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