Wellington Shields Capital Management LLC continued to hold its stake in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The firm owned 4,219 shares of the biotechnology company’s stock at the end of the second quarter. Wellington Shields Capital Management LLC’s holdings in Biogen were worth $1,145,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Dillon & Associates Inc. increased its position in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock worth $487,000 after buying an additional 5 shares in the last quarter. Beacon Trust Co. boosted its stake in shares of Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after buying an additional 6 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock worth $660,000 after buying an additional 7 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.90% during mid-day trading on Friday, hitting $283.68. 727,172 shares of the stock were exchanged. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $329.83. The stock has a 50-day moving average price of $281.49 and a 200 day moving average price of $273.98.

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 Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $5.21 EPS. On average, equities research analysts expect that Biogen Inc. will post $21.44 earnings per share for the current year.

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A number of analysts recently commented on BIIB shares. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 price target on the stock in a research note on Monday, May 8th. Barclays PLC restated an “overweight” rating and set a $360.00 price target (down from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Stifel Nicolaus upped their price target on shares of Biogen from $265.00 to $280.00 and gave the company a “hold” rating in a research note on Wednesday, April 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $310.00 price target on shares of Biogen in a research note on Tuesday, April 25th. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus price target of $329.74.

In other Biogen news, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock valued at $3,931,380 over the last ninety days. 0.32% of the stock is currently owned by 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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