Infrastructure Capital Advisors LLC Purchases 300 Shares of Biogen Inc (NASDAQ:BIIB)

Infrastructure Capital Advisors LLC increased its position in Biogen Inc (NASDAQ:BIIB) by 24.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,540 shares of the biotechnology company’s stock after buying an additional 300 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Biogen were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Comerica Securities Inc. grew its position in shares of Biogen by 18.9% during the fourth quarter. Comerica Securities Inc. now owns 2,207 shares of the biotechnology company’s stock worth $664,000 after purchasing an additional 351 shares in the last quarter. Geode Capital Management LLC raised its position in Biogen by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after purchasing an additional 144,464 shares in the last quarter. Cornerstone Advisors Inc. raised its position in Biogen by 21.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,343 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 238 shares in the last quarter. Victory Capital Management Inc. raised its position in Biogen by 9.7% during the 1st quarter. Victory Capital Management Inc. now owns 57,135 shares of the biotechnology company’s stock valued at $13,506,000 after purchasing an additional 5,075 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Biogen by 1.1% in the 1st quarter. First Allied Advisory Services Inc. now owns 10,658 shares of the biotechnology company’s stock valued at $2,502,000 after acquiring an additional 119 shares during the period. Institutional investors own 86.55% of the company’s stock.

BIIB stock traded down $5.21 on Thursday, hitting $230.75. 98,212 shares of the company’s stock were exchanged, compared to its average volume of 1,800,915. Biogen Inc has a 12-month low of $215.77 and a 12-month high of $358.41. The firm has a 50 day moving average price of $231.19 and a two-hundred day moving average price of $243.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46. The stock has a market cap of $42.42 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 0.84 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $5.80 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Biogen Inc will post 32.38 earnings per share for the current fiscal year.

BIIB has been the topic of a number of analyst reports. Wedbush initiated coverage on Biogen in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price target on the stock. Standpoint Research upgraded Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Mizuho reiterated a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Royal Bank of Canada set a $242.00 price target on Biogen and gave the company a “hold” rating in a report on Friday, September 6th. Finally, BidaskClub upgraded Biogen from a “sell” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and five have assigned a buy rating to the company. Biogen has a consensus rating of “Hold” and an average price target of $270.00.

Biogen 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 the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

See Also: Initial Coin Offering (ICO)

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.