The Jacobs Levy Equity Management Inc. Increases Position in Biogen Inc. (BIIB)

The Jacobs Levy Equity Management Inc. Increases Position in Biogen Inc. (BIIB)

Jacobs Levy Equity Management Inc. increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 36.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,093 shares of the biotechnology company’s stock after buying an additional 34,620 shares during the period. Biogen comprises approximately 0.7% of Jacobs Levy Equity Management Inc.’s holdings, making the stock its 15th largest position. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Biogen worth $40,410,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares in the last quarter. Winfield Associates Inc. raised its position in shares of Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares in the last quarter. Kings Point Capital Management purchased a new position in shares of Biogen during the second quarter worth approximately $145,000. Finally, Signaturefd LLC raised its position in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares in the last quarter. 86.35% of the stock is owned by institutional investors.

Shares of Biogen Inc. (NASDAQ:BIIB) opened at 283.61 on Thursday. The firm has a 50-day moving average of $288.82 and a 200-day moving average of $296.22. The stock has a market cap of $61.71 billion, a P/E ratio of 16.04 and a beta of 0.74. Biogen Inc. has a 52-week low of $223.02 and a 52-week high of $333.65.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.22. The firm earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.48 EPS. On average, equities analysts expect that Biogen Inc. will post $20.18 EPS for the current fiscal year.

A number of brokerages have commented on BIIB. Mizuho set a $290.00 price objective on shares of Biogen and gave the stock a “hold” rating in a report on Saturday, December 10th. BMO Capital Markets set a $336.00 price objective on shares of Biogen and gave the stock a “hold” rating in a report on Sunday, January 8th. Cowen and Company restated an “outperform” rating and issued a $368.00 target price on shares of Biogen in a research note on Wednesday, December 21st. Stifel Nicolaus set a $298.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Tuesday. Finally, Jefferies Group restated a “hold” rating on shares of Biogen in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $336.67.

In other Biogen news, Director Robert W. Pangia sold 5,450 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $295.39, for a total value of $1,609,875.50. Following the completion of the sale, the director now owns 22,078 shares in the company, valued at approximately $6,521,620.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Biogen Company Profile

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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