Proficio Capital Partners LLC boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,428 shares of the biotechnology company’s stock after buying an additional 40 shares during the period. Proficio Capital Partners LLC’s holdings in Biogen were worth $702,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BIIB. Strs Ohio boosted its stake in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares during the last quarter. Boston Advisors LLC boosted its position in Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP boosted its position in Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Biogen during the first quarter valued at about $33,233,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc. (NASDAQ:BIIB) traded down 1.33% during mid-day trading on Friday, reaching $290.50. 1,135,642 shares of the company were exchanged. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The stock has a market capitalization of $63.65 billion, a price-to-earnings ratio of 16.97 and a beta of 0.95. The company’s 50 day moving average price is $306.44 and its 200-day moving average price is $280.68.
Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. The company earned $2.89 billion during 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%. Biogen’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.22 EPS. On average, equities research analysts forecast that Biogen Inc. will post $20.08 earnings per share for the current fiscal year.
Several research analysts have issued reports on BIIB shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Biogen in a report on Wednesday, July 13th. Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a report on Tuesday, July 5th. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $261.63 price target on the stock. in a report on Monday, July 4th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $347.34.
In other Biogen news, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the completion of the sale, the executive vice president now owns 7,579 shares in the company, valued at approximately $2,364,193.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George A. Scangos sold 157 shares of Biogen 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 of the company’s stock, valued at approximately $15,338,120. The disclosure for this sale can be found here. 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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