Thompson Rubinstein Investment Management Inc. OR lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,422 shares of the biotechnology company’s stock after selling 325 shares during the period. Biogen comprises about 3.3% of Thompson Rubinstein Investment Management Inc. OR’s portfolio, making the stock its 6th largest position. Thompson Rubinstein Investment Management Inc. OR’s holdings in Biogen were worth $9,069,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in Biogen by 161.9% in the first quarter. Bank of Montreal Can now owns 324,567 shares of the biotechnology company’s stock valued at $88,744,000 after buying an additional 200,648 shares in the last quarter. Regentatlantic Capital LLC increased its stake in Biogen by 2.6% in the first quarter. Regentatlantic Capital LLC now owns 5,168 shares of the biotechnology company’s stock valued at $1,413,000 after buying an additional 132 shares in the last quarter. North American Management Corp increased its stake in Biogen by 3.6% in the first quarter. North American Management Corp now owns 751 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 26 shares in the last quarter. Atria Investments LLC increased its stake in Biogen by 27.6% in the first quarter. Atria Investments LLC now owns 1,949 shares of the biotechnology company’s stock valued at $533,000 after buying an additional 422 shares in the last quarter. Finally, Arvest Bank Trust Division increased its stake in Biogen by 2.7% in the first quarter. Arvest Bank Trust Division now owns 44,436 shares of the biotechnology company’s stock valued at $12,149,000 after buying an additional 1,151 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Inc. (BIIB) traded up 0.838% during midday trading on Friday, hitting $283.505. 405,883 shares of the stock traded hands. The firm’s 50 day moving average is $281.40 and its 200-day moving average is $273.93. The stock has a market capitalization of $59.94 billion, a PE ratio of 18.604 and a beta of 0.79. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $329.83.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $5.21 earnings per share. On average, analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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BIIB has been the subject of several recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $290.00 target price on shares of Biogen in a research report on Tuesday, April 18th. Mizuho reissued a “hold” rating and issued a $290.00 target price on shares of Biogen in a research report on Tuesday, April 18th. Barclays PLC reissued an “overweight” rating and issued a $360.00 target price (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $310.00 target price on shares of Biogen in a research report on Tuesday, April 25th. Finally, Cantor Fitzgerald set a $278.00 target price on shares of Biogen and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $329.74.

In other news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction dated 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 directly owns 6,330 shares in the company, valued at $1,622,442.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,816 shares of company stock worth $3,931,380. Company 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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