Prospera Financial Services Inc raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 40.8% during the second quarter, Holdings Channel reports. The firm owned 1,347 shares of the biotechnology company’s stock after buying an additional 390 shares during the period. Prospera Financial Services Inc’s holdings in Biogen were worth $326,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of BIIB. Howard Hughes Medical Institute acquired a new stake in Biogen during the first quarter valued at approximately $135,000. BLB&B Advisors LLC acquired a new stake in Biogen during the second quarter valued at approximately $206,000. Rehmann Capital Advisory Group boosted its stake in Biogen by 14.9% in the second quarter. Rehmann Capital Advisory Group now owns 886 shares of the biotechnology company’s stock valued at $214,000 after buying an additional 115 shares during the period. CT Financial Advisors LLC boosted its stake in Biogen by 48.3% in the second quarter. CT Financial Advisors LLC now owns 891 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 290 shares during the period. Finally, BKD Wealth Advisors LLC boosted its stake in Biogen by 8.9% in the second quarter. BKD Wealth Advisors LLC now owns 941 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 77 shares during the period. Institutional investors own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded down 0.71% on Friday, hitting $312.58. The stock had a trading volume of 881,641 shares. Biogen Inc. has a 1-year low of $223.02 and a 1-year high of $333.65. The firm’s 50-day moving average price is $309.56 and its 200-day moving average price is $275.71. The firm has a market cap of $68.49 billion, a P/E ratio of 18.26 and a beta of 0.90.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm earned $4.22 EPS. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post $20.10 earnings per share for the current year.
BIIB has been the subject of several recent analyst reports. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $273.44 price target for the company. in a report on Thursday, June 9th. Royal Bank Of Canada restated a “buy” rating on shares of Biogen in a report on Wednesday, June 8th. HC Wainwright restated a “buy” rating and issued a $360.00 price target on shares of Biogen in a report on Wednesday, June 8th. Wells Fargo & Co. reiterated a “buy” rating on shares of Biogen in a report on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating on shares of Biogen in a report on Sunday, May 29th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $347.55.
In other news, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the sale, the chief executive officer now owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.
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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