Vigilant Capital Management LLC Acquires Shares of 300 Biogen Inc. (NASDAQ:BIIB)

Vigilant Capital Management LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the third quarter, HoldingsChannel.com reports. The fund acquired 300 shares of the biotechnology company’s stock, valued at approximately $85,000.

Other large investors have also recently made changes to their positions in the company. Bahl & Gaynor Inc. purchased a new stake in shares of Biogen in the 1st quarter valued at approximately $206,000. Redmile Group LLC increased its position in shares of Biogen by 28.8% in the 1st quarter. Redmile Group LLC now owns 589,300 shares of the biotechnology company’s stock valued at $186,443,000 after purchasing an additional 131,800 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Biogen by 6.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 4,202 shares of the biotechnology company’s stock valued at $1,124,000 after purchasing an additional 239 shares during the last quarter. Carroll Financial Associates Inc. increased its position in shares of Biogen by 113.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 944 shares of the biotechnology company’s stock valued at $252,000 after purchasing an additional 501 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Biogen by 433.7% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 16,295 shares of the biotechnology company’s stock valued at $5,155,000 after purchasing an additional 13,242 shares during the last quarter. 83.74% of the stock is currently owned by institutional investors.

Shares of BIIB opened at $280.01 on Friday. The company has a 50-day simple moving average of $278.53 and a 200-day simple moving average of $289.64. The company has a quick ratio of 2.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $44.33 billion, a PE ratio of 8.20, a P/E/G ratio of 1.67 and a beta of 0.54. Biogen Inc. has a 52-week low of $220.01 and a 52-week high of $374.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.03 by $2.23. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.44 billion. Biogen had a net margin of 40.91% and a return on equity of 50.10%. During the same quarter last year, the firm posted $9.15 EPS. On average, research analysts anticipate that Biogen Inc. will post 34.74 EPS for the current year.

Several brokerages have recently issued reports on BIIB. Bank of America lowered their target price on shares of Biogen from $255.00 to $235.00 and set an “underperform” rating for the company in a report on Thursday. Raymond James restated a “sell” rating on shares of Biogen in a report on Friday, July 31st. SunTrust Banks restated a “buy” rating and issued a $330.00 target price on shares of Biogen in a report on Wednesday, July 8th. Goldman Sachs Group lowered their target price on shares of Biogen from $300.00 to $257.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Finally, BMO Capital Markets lowered their target price on shares of Biogen from $317.00 to $280.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $311.96.

Biogen Profile

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 multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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