Bridges Investment Counsel Inc. cut its stake in Biogen Inc. (NASDAQ:BIIB) by 69.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,375 shares of the biotechnology company’s stock after selling 5,397 shares during the period. Bridges Investment Counsel Inc.’s holdings in Biogen were worth $744,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. BlackRock Inc. boosted its position in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after acquiring an additional 17,074,075 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Biogen by 4,585.3% in the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after acquiring an additional 1,295,540 shares during the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in shares of Biogen in the first quarter worth approximately $345,143,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Biogen Inc. (BIIB) traded up 0.40% during trading on Wednesday, reaching $345.84. 659,611 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $319.52 and its 200-day moving average price is $283.51. The company has a market capitalization of $73.12 billion, a price-to-earnings ratio of 22.69 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating analysts’ consensus estimates 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 was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.21 earnings per share. Equities analysts expect that Biogen Inc. will post $21.62 earnings per share for the current year.
In related news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.
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Several research firms recently issued reports on BIIB. Morgan Stanley reissued a “buy” rating on shares of Biogen in a research report on Tuesday. Mizuho raised shares of Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $319.00 to $400.00 in a research report on Tuesday. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and raised their target price for the stock from $300.00 to $415.00 in a research report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and issued a $315.00 target price on shares of Biogen in a research report on Thursday, October 5th. Finally, Raymond James Financial, Inc. cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and raised their target price for the stock from $244.28 to $319.00 in a research report on Thursday, September 21st. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus price target of $339.66.
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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