Biogen Inc. (BIIB) Stake Lowered by Trillium Asset Management LLC
Trillium Asset Management LLC cut its stake in Biogen Inc. (NASDAQ:BIIB) by 6.7% during the second quarter, Holdings Channel reports. The institutional investor owned 42,700 shares of the biotechnology company’s stock after selling 3,087 shares during the period. Trillium Asset Management LLC’s holdings in Biogen were worth $10,326,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in Biogen by 9.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,909 shares of the biotechnology company’s stock valued at $1,018,000 after buying an additional 338 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Biogen during the first quarter worth about $135,000. Massmutual Trust Co. FSB ADV raised its position in Biogen by 6.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,585 shares of the biotechnology company’s stock worth $673,000 after buying an additional 157 shares during the period. Columbia Partners L L C Investment Management raised its position in Biogen by 0.3% in the first quarter. Columbia Partners L L C Investment Management now owns 9,540 shares of the biotechnology company’s stock worth $2,483,000 after buying an additional 26 shares during the period. Finally, Provident Investment Management Inc. raised its position in Biogen by 4.9% in the first quarter. Provident Investment Management Inc. now owns 64,899 shares of the biotechnology company’s stock worth $16,895,000 after buying an additional 3,004 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded down 0.57% during trading on Wednesday, hitting $309.70. The stock had a trading volume of 977,263 shares. The firm has a market cap of $67.86 billion, a PE ratio of 18.09 and a beta of 0.95. Biogen Inc. has a 52 week low of $223.02 and a 52 week high of $333.65. The company’s 50-day moving average is $309.05 and its 200 day moving average is $278.92.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to analyst estimates of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.22 EPS. Equities analysts expect that Biogen Inc. will post $20.10 EPS for the current fiscal year.
BIIB has been the topic of a number of recent research reports. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley upped their target price on shares of Biogen from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Jefferies Group restated a “buy” rating and issued a $317.00 target price on shares of Biogen in a report on Wednesday, July 13th. Credit Suisse Group AG restated a “hold” rating and issued a $312.00 target price on shares of Biogen in a report on Friday, July 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $287.00 target price on shares of Biogen in a report on Sunday, July 24th. Eleven 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $347.34.
In related news, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the transaction, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at approximately $2,244,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the transaction, the director now directly owns 19,663 shares in the company, valued at $6,174,182. 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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