Biogen Inc (NASDAQ:BIIB) Stake Boosted by Alberta Investment Management Corp

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Alberta Investment Management Corp raised its position in shares of Biogen Inc (NASDAQ:BIIB) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,300 shares of the biotechnology company’s stock after purchasing an additional 900 shares during the quarter. Alberta Investment Management Corp owned 0.06% of Biogen worth $24,627,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BIIB. Cornerstone Advisors Inc. grew its stake in shares of Biogen by 21.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,343 shares of the biotechnology company’s stock worth $317,000 after acquiring an additional 238 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Biogen by 22.1% in the 1st quarter. Moors & Cabot Inc. now owns 1,078 shares of the biotechnology company’s stock worth $255,000 after acquiring an additional 195 shares in the last quarter. National Asset Management Inc. grew its stake in shares of Biogen by 56.4% in the 1st quarter. National Asset Management Inc. now owns 3,147 shares of the biotechnology company’s stock worth $745,000 after acquiring an additional 1,135 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Biogen by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,133 shares of the biotechnology company’s stock worth $1,450,000 after acquiring an additional 87 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Biogen by 16.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 239,259 shares of the biotechnology company’s stock worth $56,432,000 after acquiring an additional 33,309 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

BIIB has been the subject of several research reports. Royal Bank of Canada set a $242.00 price target on shares of Biogen and gave the company a “hold” rating in a research report on Friday, September 6th. Piper Jaffray Companies reiterated a “hold” rating on shares of Biogen in a research report on Friday, July 26th. Mizuho reiterated a “hold” rating on shares of Biogen in a research report on Thursday, July 25th. Morgan Stanley increased their price target on shares of Biogen from $211.00 to $212.00 and gave the company an “underweight” rating in a research report on Friday. Finally, ValuEngine upgraded shares of Biogen from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company’s stock. Biogen has an average rating of “Hold” and an average target price of $270.09.

Shares of NASDAQ:BIIB traded up $0.21 during trading on Friday, reaching $223.21. The stock had a trading volume of 2,225,092 shares, compared to its average volume of 1,684,315. The stock has a market cap of $41.17 billion, a PE ratio of 8.52, a PEG ratio of 1.12 and a beta of 1.02. The business has a fifty day moving average price of $228.42 and a 200-day moving average price of $231.27. Biogen Inc has a 1-year low of $215.77 and a 1-year high of $344.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $1.57. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.80 EPS. Sell-side analysts expect that Biogen Inc will post 32.37 earnings per share for the current year.

About Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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