Biogen Inc (NASDAQ:BIIB) Shares Bought by Pathstone Family Office LLC

Pathstone Family Office LLC raised its position in Biogen Inc (NASDAQ:BIIB) by 363.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 774 shares of the biotechnology company’s stock after buying an additional 607 shares during the period. Pathstone Family Office LLC’s holdings in Biogen were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Biogen by 1.8% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 1,655 shares of the biotechnology company’s stock worth $524,000 after purchasing an additional 30 shares in the last quarter. Buckingham Asset Management LLC lifted its position in shares of Biogen by 3.9% during the first quarter. Buckingham Asset Management LLC now owns 875 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 33 shares in the last quarter. Eudaimonia Partners LLC lifted its position in shares of Biogen by 2.9% during the first quarter. Eudaimonia Partners LLC now owns 1,287 shares of the biotechnology company’s stock worth $407,000 after purchasing an additional 36 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Biogen by 0.6% during the fourth quarter. Ancora Advisors LLC now owns 6,034 shares of the biotechnology company’s stock worth $1,790,000 after purchasing an additional 38 shares in the last quarter. Finally, Clarius Group LLC lifted its position in shares of Biogen by 3.1% during the first quarter. Clarius Group LLC now owns 1,289 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 87.45% of the company’s stock.

NASDAQ:BIIB traded down $3.58 during midday trading on Friday, hitting $259.05. 634,722 shares of the stock were exchanged, compared to its average volume of 2,143,151. Biogen Inc has a one year low of $215.77 and a one year high of $374.99. The company has a market capitalization of $42.92 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 0.57 and a beta of 0.54. The business has a 50-day moving average price of $298.35 and a two-hundred day moving average price of $302.98. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.73 by $1.41. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Biogen had a return on equity of 49.22% and a net margin of 40.76%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.98 earnings per share. Sell-side analysts forecast that Biogen Inc will post 33.15 EPS for the current fiscal year.

BIIB has been the topic of a number of recent research reports. Wedbush reduced their target price on shares of Biogen from $306.00 to $295.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Barclays cut shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $370.00 to $280.00 in a report on Monday. SunTrust Banks cut their price target on shares of Biogen from $360.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Oppenheimer cut their price target on shares of Biogen from $390.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein cut shares of Biogen from an “outperform” rating to a “market perform” rating and cut their price target for the company from $360.00 to $297.00 in a report on Tuesday, June 9th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $306.50.

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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