Investment House LLC lowered its position in Biogen Inc. (NASDAQ:BIIB) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 11,199 shares of the biotechnology company’s stock after selling 145 shares during the period. Investment House LLC’s holdings in Biogen were worth $2,708,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of BIIB. Howard Hughes Medical Institute purchased a new stake in shares of Biogen during the first quarter worth about $135,000. BLB&B Advisors LLC purchased a new stake in shares of Biogen during the second quarter worth about $206,000. Rehmann Capital Advisory Group boosted its stake 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 worth $214,000 after buying an additional 115 shares in the last quarter. CT Financial Advisors LLC boosted its stake 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 worth $215,000 after buying an additional 290 shares in the last quarter. Finally, BKD Wealth Advisors LLC boosted its stake 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 worth $228,000 after buying an additional 77 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded up 1.61% during trading on Wednesday, hitting $312.00. 1,527,608 shares of the stock were exchanged. Biogen Inc. has a 52 week low of $223.02 and a 52 week high of $333.65. The stock has a market cap of $68.37 billion, a P/E ratio of 18.23 and a beta of 0.90. The stock has a 50 day moving average of $309.80 and a 200-day moving average of $275.12.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $4.22 EPS. Equities analysts expect that Biogen Inc. will post $20.10 EPS for the current fiscal year.
A number of brokerages have recently issued reports on BIIB. JPMorgan Chase & Co. restated a “buy” rating and set a $386.00 price objective on shares of Biogen in a report on Friday, September 16th. Jefferies Group reiterated a “buy” rating and issued a $319.00 price target on shares of Biogen in a research note on Thursday, August 4th. Robert W. Baird reiterated a “neutral” rating and issued a $284.00 price target on shares of Biogen in a research note on Wednesday, August 10th. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target for the company in a research note on Monday, September 12th. Finally, Standpoint Research cut Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $346.22.
In other news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were 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 in the company, valued at approximately $15,338,120. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.
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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