Biogen Inc. (BIIB) Shares Sold by Investment House LLC
Investment House LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.3% during the second quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of BIIB. Howard Hughes Medical Institute bought a new stake in Biogen during the first quarter valued at $135,000. BLB&B Advisors LLC bought a new stake in Biogen during the second quarter valued at $206,000. Rehmann Capital Advisory Group boosted its stake in 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 period. CT Financial Advisors LLC boosted its stake in 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 period. Finally, BKD Wealth Advisors LLC boosted its stake in 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 period. Hedge funds and other institutional investors own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded up 1.61% on Wednesday, hitting $312.00. 1,527,608 shares of the stock traded hands. Biogen Inc. has a 12 month low of $223.02 and a 12 month high of $333.65. The company has a market capitalization of $68.37 billion, a PE ratio of 18.23 and a beta of 0.90. The firm has a 50-day moving average price of $309.80 and a 200-day moving average price of $275.12.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.22 EPS. Analysts forecast that Biogen Inc. will post $20.10 earnings per share for the current year.
BIIB has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $386.00 target price on shares of Biogen in a research report on Friday, September 16th. Jefferies Group reiterated a “buy” rating and issued a $319.00 target price on shares of Biogen in a research report on Thursday, August 4th. Robert W. Baird reiterated a “neutral” rating and issued a $284.00 target price on shares of Biogen in a research report on Wednesday, August 10th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 target price on the stock in a research report on Monday, September 12th. Finally, Standpoint Research cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $346.22.
In related news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $280.00, for a total value of $43,960.00. Following the transaction, the chief executive officer now owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.
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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