Cambridge Investment Research Advisors Inc. Sells 32 Shares of Biogen Inc. (BIIB)

Cambridge Investment Research Advisors Inc. lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,428 shares of the biotechnology company’s stock after selling 32 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Biogen were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Biogen by 2,762.0% during the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after purchasing an additional 17,074,075 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Biogen by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after purchasing an additional 342,568 shares in the last quarter. State Street Corp grew its holdings in shares of Biogen by 2.3% during the 1st quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock worth $2,619,469,000 after purchasing an additional 219,502 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Biogen by 4.0% during the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Biogen by 11.1% during the 1st quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after purchasing an additional 294,308 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

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In related news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

BIIB has been the topic of several recent research reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective on the stock in a report on Tuesday, June 27th. Deutsche Bank AG assumed coverage on Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 price target on the stock. Robert W. Baird reaffirmed a “hold” rating and issued a $290.00 price target on shares of Biogen in a research note on Friday, August 25th. Credit Suisse Group set a $300.00 price target on Biogen and gave the company a “hold” rating in a research note on Friday, July 14th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $277.00 price target on shares of Biogen in a research note on Thursday, May 25th. Twelve investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $329.95.

Shares of Biogen Inc. (NASDAQ:BIIB) opened at 326.54 on Tuesday. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.95. The firm has a market capitalization of $69.04 billion, a PE ratio of 21.43 and a beta of 0.77. The company’s 50 day moving average price is $293.63 and its 200-day moving average price is $276.83.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $5.21 EPS. On average, equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current fiscal year.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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