Brown Advisory Inc. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 57.3% during the second quarter, Holdings Channel reports. The fund owned 12,031 shares of the biotechnology company’s stock after buying an additional 4,383 shares during the period. Brown Advisory Inc.’s holdings in Biogen were worth $2,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Prudential Financial Inc. raised its position in shares of Biogen by 4.1% in the second quarter. Prudential Financial Inc. now owns 817,424 shares of the biotechnology company’s stock valued at $197,669,000 after buying an additional 32,210 shares during the last quarter. Private Advisor Group LLC increased its stake in Biogen by 40.7% in the second quarter. Private Advisor Group LLC now owns 5,402 shares of the biotechnology company’s stock valued at $1,337,000 after buying an additional 1,562 shares during the period. AJO LP increased its stake in Biogen by 245.9% in the second quarter. AJO LP now owns 140,331 shares of the biotechnology company’s stock valued at $33,935,000 after buying an additional 99,758 shares during the period. Dimensional Fund Advisors LP increased its stake in Biogen by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 514,568 shares of the biotechnology company’s stock valued at $124,425,000 after buying an additional 37,922 shares during the period. Finally, Bradley Foster & Sargent Inc. CT increased its stake in Biogen by 1.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 44,590 shares of the biotechnology company’s stock valued at $10,783,000 after buying an additional 697 shares during the period. 86.21% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Inc. (NASDAQ:BIIB) traded up 0.76% on Thursday, hitting $314.37. The stock had a trading volume of 449,792 shares. The company has a market capitalization of $68.88 billion, a PE ratio of 18.36 and a beta of 0.90. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The company 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 Zacks’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. Biogen’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.22 earnings per share. On average, equities analysts expect that Biogen Inc. will post $20.10 earnings per share for the current year.

Several analysts have recently issued reports on the company. Vetr downgraded Biogen from a “hold” rating to a “sell” rating and set a $299.76 price target for the company. in a research note on Tuesday, August 2nd. Credit Suisse Group AG reiterated a “hold” rating and set a $322.00 price target on shares of Biogen in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reiterated a “neutral” rating on shares of Biogen in a research note on Wednesday, August 3rd. Morgan Stanley reiterated a “buy” rating and set a $385.00 price target on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $319.00 price target on shares of Biogen in a research note on Thursday, August 4th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Biogen currently has an average rating of “Buy” and a consensus target price of $346.22.

In other Biogen news, CEO George A. Scangos sold 157 shares of the company’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 of the company’s stock, valued at $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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