Jackson Square Partners LLC Has $792.04 Million Holdings in Biogen Inc (BIIB)
Jackson Square Partners LLC raised its holdings in Biogen Inc (NASDAQ:BIIB) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,241,778 shares of the biotechnology company’s stock after buying an additional 121,072 shares during the period. Biogen makes up approximately 4.0% of Jackson Square Partners LLC’s portfolio, making the stock its 5th largest position. Jackson Square Partners LLC owned 1.11% of Biogen worth $792,042,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. LeJeune Puetz Investment Counsel LLC acquired a new position in Biogen in the third quarter valued at $107,000. Adviser Investments LLC increased its stake in Biogen by 745.7% in the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 343 shares during the period. NEXT Financial Group Inc acquired a new position in Biogen in the third quarter valued at $133,000. Harvest Fund Management Co. Ltd increased its stake in Biogen by 122.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 384 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 211 shares during the period. Finally, Kaizen Advisory LLC increased its stake in Biogen by 145.8% in the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 296 shares during the period. 86.41% of the stock is owned by institutional investors.
A number of research firms have commented on BIIB. Citigroup dropped their price objective on shares of Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. BidaskClub lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Barclays lifted their price objective on shares of Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 25th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Finally, Oppenheimer set a $380.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Sunday, October 28th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $383.01.
Shares of NASDAQ:BIIB opened at $319.21 on Tuesday. The stock has a market capitalization of $65.29 billion, a PE ratio of 14.64, a PEG ratio of 1.25 and a beta of 1.01. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. Biogen Inc has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.31 earnings per share. On average, equities analysts predict that Biogen Inc will post 25.79 earnings per share for the current fiscal year.
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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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