Raymond James Financial Services Advisors Inc. Cuts Holdings in Biogen Inc. (BIIB)
Raymond James Financial Services Advisors Inc. lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,278 shares of the biotechnology company’s stock after selling 4,566 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Biogen were worth $7,289,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC purchased a new position in Biogen in the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. grew its stake in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Atlantic Trust LLC purchased a new position in Biogen in the 2nd quarter worth approximately $114,000. Independent Portfolio Consultants Inc. grew its stake in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares in the last quarter. 88.28% of the stock is owned by institutional investors and hedge funds.
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Biogen Inc. (NASDAQ BIIB) opened at $313.97 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $66,397.40, a P/E ratio of 14.54, a P/E/G ratio of 1.96 and a beta of 0.72. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $348.84.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.19 earnings per share. analysts expect that Biogen Inc. will post 22.03 EPS for the current year.
A number of equities analysts have commented on BIIB shares. Citigroup Inc. cut shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective for the company. in a research note on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 12th. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $341.89.
Biogen Company Profile
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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