Biogen Inc. (BIIB) Holdings Decreased by Banque Pictet & Cie SA
Banque Pictet & Cie SA lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,920 shares of the biotechnology company’s stock after selling 2,020 shares during the quarter. Banque Pictet & Cie SA’s holdings in Biogen were worth $6,864,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Aviance Capital Partners LLC raised its position in shares of Biogen by 1.1% in the 1st quarter. Aviance Capital Partners LLC now owns 3,270 shares of the biotechnology company’s stock worth $894,000 after buying an additional 37 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Biogen by 2.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,913 shares of the biotechnology company’s stock worth $1,890,000 after buying an additional 140 shares during the period. Vanguard Group Inc. raised its position in shares of Biogen by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. Rex Capital Advisors LLC purchased a new position in shares of Biogen in the 1st quarter worth $203,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Biogen by 2.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,460 shares of the biotechnology company’s stock worth $1,493,000 after buying an additional 125 shares during the period. 88.35% of the stock is currently owned by institutional investors.
Biogen Inc. (NASDAQ:BIIB) traded down $0.01 during midday trading on Friday, reaching $313.97. 826,600 shares of the company’s stock traded hands, compared to its average volume of 1,509,567. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The stock has a market cap of $66,400.00, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company posted $5.19 EPS. Biogen’s revenue was up 4.1% on a year-over-year basis. equities research analysts expect that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.
BIIB has been the topic of several research reports. Citigroup Inc. lowered Biogen from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective on the stock. in a research report on Wednesday, August 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Robert W. Baird reissued a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research report on Friday, August 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $341.89.
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Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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