Columbia Partners L L C Investment Management lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,702 shares of the biotechnology company’s stock after selling 1,412 shares during the period. Columbia Partners L L C Investment Management’s holdings in Biogen were worth $5,386,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. raised 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 valued at $4,837,418,000 after buying an additional 17,074,075 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the last quarter. State Street Corp raised its position in shares of Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock valued at $2,619,469,000 after buying an additional 219,502 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock valued at $803,122,000 after buying an additional 294,308 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Biogen by 6.7% in the first quarter. Geode Capital Management LLC now owns 2,372,175 shares of the biotechnology company’s stock valued at $647,777,000 after buying an additional 149,832 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) traded up 0.82% during mid-day trading on Monday, hitting $290.64. The stock had a trading volume of 233,839 shares. The firm has a market cap of $61.45 billion, a P/E ratio of 19.07 and a beta of 0.79. The stock has a 50 day moving average of $276.09 and a 200-day moving average of $273.47. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $304.23.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for 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%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $5.21 EPS. Analysts predict that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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Several research analysts have recently commented on BIIB shares. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a research report on Tuesday, June 27th. Deutsche Bank AG started coverage on Biogen in a research report on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price for the company. Cowen and Company reiterated a “buy” rating and issued a $338.00 target price on shares of Biogen in a research report on Tuesday, April 25th. Barclays PLC reiterated an “overweight” rating and issued a $360.00 target price (down previously from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 target price on Biogen and gave the stock a “hold” rating in a research report on Friday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $329.74.

In other news, EVP Susan H. Alexander sold 4,974 shares of the 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 transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock worth $3,931,380 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Biogen Company Profile

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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