Biogen Inc. (BIIB) Position Decreased by Boston Advisors LLC
Boston Advisors LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 54.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,444 shares of the biotechnology company’s stock after selling 2,913 shares during the period. Boston Advisors LLC’s holdings in Biogen were worth $663,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of BIIB. BlackRock Inc. boosted its stake in 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 in the last quarter. Janus Capital Management LLC boosted its stake in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after buying an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after buying an additional 1,295,540 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Biogen during the first quarter valued at approximately $345,143,000. Finally, Manning & Napier Advisors LLC boosted its stake in Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock valued at $220,986,000 after buying an additional 691,694 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ BIIB) traded up 0.90% during trading on Friday, reaching $283.68. The company’s stock had a trading volume of 727,172 shares. The firm has a 50-day moving average price of $281.49 and a 200-day moving average price of $273.98. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.83. The firm has a market capitalization of $59.98 billion, a P/E ratio of 18.62 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 (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $5.21 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities 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 analyst reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 price target for the company in a report on Monday, May 8th. Barclays PLC reissued an “overweight” rating and issued a $360.00 price target (down from $380.00) on shares of Biogen in a report on Sunday, April 23rd. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus raised their price target on Biogen from $265.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $310.00 price target on shares of Biogen in a report on Tuesday, April 25th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $328.81.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction 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 sale, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Over the last three months, 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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