Strategic Global Advisors LLC lowered its position in Biogen Inc (NASDAQ:BIIB) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,125 shares of the biotechnology company’s stock after selling 103 shares during the quarter. Strategic Global Advisors LLC’s holdings in Biogen were worth $1,432,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Biogen by 33.7% during the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock valued at $991,793,000 after acquiring an additional 1,063,775 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Biogen by 52.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock valued at $580,717,000 after buying an additional 851,263 shares in the last quarter. Parnassus Investments CA grew its position in shares of Biogen by 46.8% in the 2nd quarter. Parnassus Investments CA now owns 925,000 shares of the biotechnology company’s stock worth $216,330,000 after buying an additional 295,000 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its position in shares of Biogen by 57.7% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 667,753 shares of the biotechnology company’s stock worth $157,843,000 after buying an additional 244,326 shares during the last quarter. Finally, Banco Santander S.A. raised its stake in shares of Biogen by 134.5% during the 1st quarter. Banco Santander S.A. now owns 355,801 shares of the biotechnology company’s stock worth $84,105,000 after acquiring an additional 204,042 shares in the last quarter. 86.55% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:BIIB traded up $2.19 during trading hours on Wednesday, reaching $235.19. The company had a trading volume of 858,704 shares, compared to its average volume of 1,128,617. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $358.41. The firm has a market cap of $42.42 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.01. The business’s 50 day moving average price is $231.33 and its 200-day moving average price is $243.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22.
BIIB has been the subject of a number of analyst reports. Wedbush began coverage on shares of Biogen in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $231.00 target price for the company. Cowen reaffirmed a “buy” rating and set a $275.00 price target on shares of Biogen in a research report on Tuesday, July 30th. Mizuho reiterated a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Piper Jaffray Companies restated a “hold” rating on shares of Biogen in a research note on Friday, July 26th. Finally, BidaskClub lowered Biogen from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $270.00.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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