Courier Capital LLC Buys 140 Shares of Biogen Inc. (NASDAQ:BIIB)

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Courier Capital LLC raised its stake in Biogen Inc. (NASDAQ:BIIB) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,126 shares of the biotechnology company’s stock after buying an additional 140 shares during the period. Courier Capital LLC’s holdings in Biogen were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Investment Advisors LLC boosted its position in shares of Biogen by 6.0% during the 2nd quarter. Capital Investment Advisors LLC now owns 4,202 shares of the biotechnology company’s stock valued at $1,124,000 after purchasing an additional 239 shares in the last quarter. Strs Ohio boosted its position in shares of Biogen by 3.1% during the 2nd quarter. Strs Ohio now owns 90,704 shares of the biotechnology company’s stock valued at $24,267,000 after purchasing an additional 2,692 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Biogen by 236.5% during the 2nd quarter. AE Wealth Management LLC now owns 6,437 shares of the biotechnology company’s stock valued at $1,722,000 after purchasing an additional 4,524 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Biogen by 16.2% during the 2nd quarter. Private Advisor Group LLC now owns 7,325 shares of the biotechnology company’s stock valued at $1,960,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Private Trust Co. NA bought a new stake in shares of Biogen during the 3rd quarter valued at about $541,000. Hedge funds and other institutional investors own 83.74% of the company’s stock.

Several research analysts have issued reports on BIIB shares. Mizuho cut their price target on Biogen from $282.00 to $244.00 and set a “neutral” rating on the stock in a report on Monday, November 9th. Stifel Nicolaus cut their price target on Biogen from $294.00 to $284.00 and set a “hold” rating on the stock in a report on Wednesday, July 22nd. Royal Bank of Canada cut their price target on Biogen from $263.00 to $244.00 and set a “sector perform” rating on the stock in a report on Monday, November 9th. UBS Group started coverage on Biogen in a report on Wednesday, October 28th. They issued a “neutral” rating and a $268.00 price target on the stock. Finally, Wedbush cut their price target on Biogen from $281.00 to $244.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company. Biogen currently has an average rating of “Hold” and a consensus price target of $305.74.

Shares of NASDAQ:BIIB opened at $251.57 on Tuesday. The company has a market cap of $38.62 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 1.10 and a beta of 0.61. The company has a 50-day moving average price of $274.52 and a 200-day moving average price of $282.56. The company has a current ratio of 2.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.69. Biogen Inc. has a 12 month low of $223.25 and a 12 month high of $374.99.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 21st. The biotechnology company reported $8.84 EPS for the quarter, beating the consensus estimate of $8.06 by $0.78. The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.34 billion. Biogen had a net margin of 35.63% and a return on equity of 51.00%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.17 earnings per share. As a group, research analysts forecast that Biogen Inc. will post 33.61 EPS for the current fiscal year.

In related news, EVP Alfred Sandrock sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $350.00, for a total transaction of $525,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

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 multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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