Tuttle Tactical Management bought a new position in Biogen Inc (NASDAQ:BIIB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 593 shares of the biotechnology company’s stock, valued at approximately $172,000.

A number of other large investors also recently made changes to their positions in the stock. Kaizen Advisory LLC raised its stake in shares of Biogen by 145.8% during the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 296 shares during the last quarter. First Interstate Bank raised its stake in shares of Biogen by 112.2% during the second quarter. First Interstate Bank now owns 885 shares of the biotechnology company’s stock valued at $257,000 after acquiring an additional 468 shares during the last quarter. Greenwood Capital Associates LLC raised its stake in shares of Biogen by 29.5% during the second quarter. Greenwood Capital Associates LLC now owns 14,737 shares of the biotechnology company’s stock valued at $4,277,000 after acquiring an additional 3,359 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Biogen by 861.3% during the second quarter. Private Advisor Group LLC now owns 22,426 shares of the biotechnology company’s stock valued at $6,528,000 after acquiring an additional 20,093 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Biogen by 3.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 920,587 shares of the biotechnology company’s stock valued at $267,192,000 after acquiring an additional 28,440 shares during the last quarter. Institutional investors own 87.46% of the company’s stock.

Shares of NASDAQ BIIB opened at $340.25 on Tuesday. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67. The company has a market cap of $68.42 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.31 and a beta of 0.90. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, beating the Zacks’ consensus estimate of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the company posted $5.04 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. sell-side analysts anticipate that Biogen Inc will post 25.34 EPS for the current year.

Several brokerages have recently commented on BIIB. BidaskClub raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Stifel Nicolaus assumed coverage on shares of Biogen in a research note on Tuesday, August 7th. They issued a “buy” rating and a $394.00 price target for the company. Mizuho reissued a “buy” rating and issued a $427.00 price target on shares of Biogen in a research note on Tuesday, July 31st. Oppenheimer set a $400.00 price target on shares of Biogen and gave the stock a “buy” rating in a research note on Sunday, July 29th. Finally, Citigroup increased their price target on shares of Biogen to $483.00 and gave the stock a “positive” rating in a research note on Thursday, July 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $375.52.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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