Patten Group Inc. maintained its stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 505 shares of the biotechnology company’s stock at the end of the first quarter. Patten Group Inc.’s holdings in Biogen were worth $136,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $102,000. Crestwood Advisors Group LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $106,000. Winfield Associates Inc. boosted its stake in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock worth $162,000 after buying an additional 74 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $164,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.21 EPS. On average, analysts predict that Biogen Inc. will post $21.44 earnings per share for the current year.

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A number of brokerages have recently commented on BIIB. UBS AG reaffirmed a “neutral” rating and set a $285.00 price objective (up previously from $270.00) on shares of Biogen in a research note on Wednesday, July 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of Biogen in a research note on Thursday, May 25th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a research note on Wednesday, June 21st. Deutsche Bank AG reissued a “buy” rating and issued a $319.00 price target (up previously from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Monday, May 15th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $329.74.

In other Biogen news, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the sale, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock worth $3,931,380 in the last ninety days. 0.32% of the stock is owned by company insiders.

About Biogen

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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