Advisory Services Network LLC boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 27.9% during the second quarter, Holdings Channel reports. The firm owned 2,004 shares of the biotechnology company’s stock after buying an additional 437 shares during the period. Advisory Services Network LLC’s holdings in Biogen were worth $485,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Howard Hughes Medical Institute purchased a new position in Biogen during the first quarter valued at approximately $135,000. BLB&B Advisors LLC bought a new position in shares of Biogen during the second quarter valued at about $206,000. Rehmann Capital Advisory Group boosted its position in shares of 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 last quarter. CT Financial Advisors LLC boosted its position in shares of 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 last quarter. Finally, BKD Wealth Advisors LLC boosted its position in shares of 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 last quarter. Institutional investors own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded down 1.20% during midday trading on Thursday, hitting $305.99. 865,092 shares of the company traded hands. The stock has a 50 day moving average price of $308.94 and a 200-day moving average price of $279.14. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The company has a market cap of $67.05 billion, a PE ratio of 17.87 and a beta of 0.95.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the business earned $4.22 earnings per share. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Biogen Inc. will post $20.10 EPS for the current year.
BIIB has been the subject of several research analyst reports. Bank of America Corp. restated a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $273.44 target price 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 target price on shares of Biogen in a report on Wednesday, June 8th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Biogen in a report on Wednesday, June 8th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $347.34.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $313.00, for a total value of $118,940.00. Following the sale, the executive vice president now directly owns 7,172 shares in the company, valued at $2,244,836. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the sale, the chief executive officer now owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
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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