Massmutual Trust Co. FSB ADV Sells 1,191 Shares of Biogen Inc (BIIB)
Massmutual Trust Co. FSB ADV trimmed its position in Biogen Inc (NASDAQ:BIIB) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,640 shares of the biotechnology company’s stock after selling 1,191 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Biogen were worth $4,819,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BIIB. Jackson Square Partners LLC boosted its holdings in Biogen by 5.7% in the third quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock worth $792,042,000 after acquiring an additional 121,072 shares in the last quarter. CI Investments Inc. bought a new stake in Biogen in the third quarter worth $3,018,000. Fosun International Ltd bought a new stake in Biogen in the third quarter worth $711,000. Todd Asset Management LLC boosted its holdings in Biogen by 68.5% in the third quarter. Todd Asset Management LLC now owns 78,109 shares of the biotechnology company’s stock worth $27,596,000 after acquiring an additional 31,762 shares in the last quarter. Finally, Girard Partners LTD. bought a new stake in Biogen in the third quarter worth $187,000. 86.41% of the stock is currently owned by institutional investors.
Several research firms have commented on BIIB. Cantor Fitzgerald set a $293.00 target price on Biogen and gave the stock a “hold” rating in a report on Wednesday, July 25th. Citigroup boosted their target price on Biogen to $483.00 and gave the stock a “positive” rating in a report on Thursday, July 26th. UBS Group boosted their target price on Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Robert W. Baird upped their price target on Biogen from $323.00 to $348.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, Barclays upped their price target on Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $383.01.
NASDAQ:BIIB opened at $319.21 on Tuesday. The company has a market capitalization of $65.29 billion, a PE ratio of 14.64, a P/E/G ratio of 1.25 and a beta of 1.01. Biogen Inc has a 1 year low of $249.17 and a 1 year high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $6.31 EPS. Research analysts expect that Biogen Inc will post 25.79 EPS 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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