Robshaw & Julian Associates Inc. held its position in Biogen Inc. (NASDAQ:BIIB) during the third quarter, Holdings Channel reports. The fund owned 5,620 shares of the biotechnology company’s stock at the end of the third quarter. Robshaw & Julian Associates Inc.’s holdings in Biogen were worth $1,759,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its position in Biogen by 22.2% in the second quarter. Eqis Capital Management Inc. now owns 7,015 shares of the biotechnology company’s stock worth $1,696,000 after buying an additional 1,276 shares in the last quarter. BLB&B Advisors LLC bought a new position in Biogen during the second quarter worth $206,000. Acadian Asset Management LLC increased its position in Biogen by 44.9% in the second quarter. Acadian Asset Management LLC now owns 4,305 shares of the biotechnology company’s stock worth $1,041,000 after buying an additional 1,334 shares in the last quarter. TNB Financial increased its position in Biogen by 128.0% in the second quarter. TNB Financial now owns 20,064 shares of the biotechnology company’s stock worth $4,852,000 after buying an additional 11,265 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in Biogen during the second quarter worth $2,515,000. 86.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Biogen Inc. (NASDAQ:BIIB) traded down 1.20% on Friday, reaching $283.58. 1,327,153 shares of the company were exchanged. The company’s 50-day moving average is $297.20 and its 200-day moving average is $290.70. The company has a market capitalization of $61.70 billion, a price-to-earnings ratio of 16.04 and a beta of 0.75. Biogen Inc. has a 52 week low of $223.02 and a 52 week high of $333.65.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the business posted $4.48 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc. will post $20.21 EPS for the current fiscal year.
A number of brokerages recently commented on BIIB. Jefferies Group restated a “buy” rating and set a $319.00 price target on shares of Biogen in a research note on Sunday, September 4th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $352.34 price target on the stock in a research note on Monday, September 5th. HC Wainwright restated a “buy” rating and set a $360.00 price target on shares of Biogen in a research note on Thursday, September 8th. Stifel Nicolaus restated a “hold” rating on shares of Biogen in a research note on Friday, September 16th. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $386.00 price target on shares of Biogen in a research note on Friday, September 16th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $337.45.
In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total transaction of $81,728.28. Following the transaction, the executive vice president now owns 7,579 shares in the company, valued at $2,364,193.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.