Industrial Alliance Investment Management Inc. Has $8.47 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Industrial Alliance Investment Management Inc. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Get Rating) by 195.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,729 shares of the biotechnology company’s stock after purchasing an additional 20,989 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Biogen were worth $8,472,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BIIB. Lindenwold Advisors boosted its stake in shares of Biogen by 0.7% in the 3rd quarter. Lindenwold Advisors now owns 5,376 shares of the biotechnology company’s stock worth $1,435,000 after buying an additional 38 shares during the last quarter. Allworth Financial LP boosted its position in Biogen by 5.7% in the third quarter. Allworth Financial LP now owns 722 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 39 shares during the last quarter. Tevis Investment Management boosted its position in Biogen by 2.0% in the third quarter. Tevis Investment Management now owns 2,522 shares of the biotechnology company’s stock worth $673,000 after purchasing an additional 49 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Biogen by 2.6% during the 3rd quarter. Westside Investment Management Inc. now owns 2,000 shares of the biotechnology company’s stock valued at $253,930,000 after purchasing an additional 50 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of Biogen by 4.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,255 shares of the biotechnology company’s stock worth $335,000 after purchasing an additional 55 shares during the period. 84.40% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $262.37 on Thursday. The company’s fifty day moving average price is $279.04 and its 200-day moving average price is $268.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.99 and a quick ratio of 2.58. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.17 and a beta of 0.19. Biogen Inc. has a one year low of $187.16 and a one year high of $311.88.

Biogen (NASDAQ:BIIB – Get Rating) last released its earnings results on Wednesday, February 15th. The biotechnology company reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.57. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the firm earned $3.39 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post 15.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Biogen from $335.00 to $350.00 in a research report on Monday. HC Wainwright restated a “buy” rating and set a $325.00 price target on shares of Biogen in a research note on Thursday, February 16th. UBS Group upped their price objective on Biogen from $337.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Mizuho initiated coverage on Biogen in a report on Wednesday, November 30th. They set a “buy” rating and a $325.00 price objective for the company. Finally, Atlantic Securities upped their price target on Biogen from $220.00 to $295.00 and gave the company a “neutral” rating in a research report on Thursday, December 1st. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Biogen Company Profile

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.