Clean Yield Group Purchases 648 Shares of Biogen Inc. (NASDAQ:BIIB)

Clean Yield Group raised its position in Biogen Inc. (NASDAQ:BIIB) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,476 shares of the biotechnology company’s stock after purchasing an additional 648 shares during the period. Biogen makes up about 1.6% of Clean Yield Group’s investment portfolio, making the stock its 16th biggest holding. Clean Yield Group’s holdings in Biogen were worth $3,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. IFM Investors Pty Ltd increased its stake in Biogen by 6.1% in the third quarter. IFM Investors Pty Ltd now owns 13,800 shares of the biotechnology company’s stock valued at $3,915,000 after purchasing an additional 796 shares in the last quarter. Denali Advisors LLC increased its stake in Biogen by 1,710.0% in the third quarter. Denali Advisors LLC now owns 18,100 shares of the biotechnology company’s stock valued at $5,135,000 after purchasing an additional 17,100 shares in the last quarter. Vigilant Capital Management LLC bought a new stake in Biogen in the third quarter valued at approximately $85,000. Diversified Trust Co increased its stake in Biogen by 52.1% in the third quarter. Diversified Trust Co now owns 1,980 shares of the biotechnology company’s stock valued at $562,000 after purchasing an additional 678 shares in the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in Biogen in the third quarter valued at approximately $237,000. 83.74% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on BIIB. Credit Suisse Group raised shares of Biogen from a “neutral” rating to an “outperform” rating and upped their target price for the company from $270.00 to $375.00 in a research note on Friday, August 7th. BMO Capital Markets reduced their price target 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. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Biogen in a report on Sunday, September 13th. Oppenheimer upped their price target on shares of Biogen from $325.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Stifel Nicolaus reduced their price target on shares of Biogen from $294.00 to $284.00 and set a “hold” rating for the company in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $311.96.

BIIB stock traded down $0.62 during trading hours on Friday, reaching $280.01. The stock had a trading volume of 843,290 shares, compared to its average volume of 1,662,454. The stock has a market capitalization of $44.33 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.67 and a beta of 0.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.46 and a quick ratio of 2.19. The stock has a 50-day simple moving average of $278.53 and a 200 day simple moving average of $289.64. Biogen Inc. has a fifty-two week low of $220.01 and a fifty-two week high of $374.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 EPS for the quarter, beating analysts’ consensus estimates of $8.03 by $2.23. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations 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 company posted $9.15 earnings per share. On average, sell-side analysts forecast that Biogen Inc. will post 34.74 EPS for the current fiscal year.

Biogen Company 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.

See Also: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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