Chicago Partners Investment Group LLC Raises Stake in Biogen Inc. (NASDAQ:BIIB)

by · The Markets Daily

Chicago Partners Investment Group LLC increased its stake in Biogen Inc. (NASDAQ:BIIB – Free Report) by 3.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,650 shares of the biotechnology company’s stock after buying an additional 50 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Biogen were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Biogen by 0.6% in the 2nd quarter. BlackRock Inc. now owns 14,065,994 shares of the biotechnology company’s stock valued at $4,006,698,000 after acquiring an additional 79,773 shares during the period. Vanguard Group Inc. raised its stake in Biogen by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after acquiring an additional 183,285 shares during the period. State Street Corp raised its stake in Biogen by 2.8% in the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after acquiring an additional 197,400 shares during the period. Geode Capital Management LLC raised its stake in Biogen by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,183,679 shares of the biotechnology company’s stock valued at $904,582,000 after acquiring an additional 80,944 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Biogen by 49.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after acquiring an additional 691,843 shares during the period. 85.99% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

NASDAQ:BIIB opened at $254.23 on Thursday. The firm has a market cap of $36.84 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 2.38 and a beta of 0.05. Biogen Inc. has a fifty-two week low of $220.86 and a fifty-two week high of $319.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.68. The business has a 50 day moving average price of $243.62 and a 200-day moving average price of $257.75.

Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported $4.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.37. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.40 billion. Biogen had a return on equity of 16.40% and a net margin of 14.63%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.77 earnings per share. Equities research analysts predict that Biogen Inc. will post 14.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BIIB shares. StockNews.com upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Oppenheimer upped their price target on Biogen from $280.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Needham & Company LLC reiterated a “buy” rating and set a $305.00 price target on shares of Biogen in a research report on Thursday, October 26th. Raymond James upgraded Biogen from a “market perform” rating to an “outperform” rating and set a $283.00 price target on the stock in a research report on Thursday, December 7th. Finally, BMO Capital Markets decreased their price objective on shares of Biogen from $314.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.67.

Read Our Latest Stock Report on BIIB

Insider Activity at Biogen

In related news, insider Priya Singhal sold 110 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $248.00, for a total transaction of $27,280.00. Following the completion of the transaction, the insider now owns 3,464 shares in the company, valued at $859,072. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Biogen Profile

(Free Report)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.

See Also

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