Biogen Inc (BIIB) Holdings Raised by Seizert Capital Partners LLC
Seizert Capital Partners LLC raised its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 105,484 shares of the biotechnology company’s stock after buying an additional 6,929 shares during the period. Biogen comprises 1.4% of Seizert Capital Partners LLC’s portfolio, making the stock its 28th largest holding. Seizert Capital Partners LLC’s holdings in Biogen were worth $37,269,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of BIIB. Morgan Stanley grew its stake in Biogen by 61.1% during the 2nd quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after purchasing an additional 664,096 shares in the last quarter. Mainstay Capital Management LLC ADV grew its stake in Biogen by 21,407.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after purchasing an additional 662,120 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Biogen in the 3rd quarter worth approximately $218,735,000. American Century Companies Inc. grew its position in shares of Biogen by 32.1% in the 3rd quarter. American Century Companies Inc. now owns 1,507,871 shares of the biotechnology company’s stock worth $532,746,000 after acquiring an additional 366,361 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Biogen in the 2nd quarter worth approximately $76,080,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.
Shares of NASDAQ BIIB opened at $324.01 on Monday. The company has a market capitalization of $65.29 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.25 and a beta of 1.01. Biogen Inc has a 12-month low of $249.17 and a 12-month high of $388.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75.
BIIB has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of Biogen in a research report on Monday, October 1st. Citigroup decreased their target price on Biogen from $483.00 to $470.00 and set a “buy” rating for the company in a research report on Monday, October 8th. Oppenheimer set a $400.00 target price on Biogen and gave the stock a “buy” rating in a research report on Sunday, September 16th. Raymond James set a $400.00 target price on Biogen and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, BidaskClub upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $383.01.
In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.
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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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