Burney Co. Cuts Position in Biogen Inc. (BIIB)
Burney Co. reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,805 shares of the biotechnology company’s stock after selling 260 shares during the quarter. Burney Co.’s holdings in Biogen were worth $2,938,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pathstone Family Office LLC acquired a new stake in Biogen in the 1st quarter valued at $102,000. Prentiss Smith & Co. Inc. increased its stake in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Winfield Associates Inc. increased its stake in Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ BIIB) opened at 324.05 on Thursday. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00. The firm has a market capitalization of $68.51 billion, a PE ratio of 21.26 and a beta of 0.77. The company’s 50-day moving average is $295.86 and its 200-day moving average is $277.45.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $5.21 earnings per share. Biogen’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Biogen Inc. will post $21.44 EPS for the current fiscal year.
In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Several brokerages have issued reports on BIIB. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and lifted their price target for the company from $262.00 to $270.00 in a research note on Monday, June 19th. Mizuho reiterated a “neutral” rating and issued a $319.00 price target (up from $274.00) on shares of Biogen in a research note on Wednesday. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target on the stock in a research note on Thursday, August 10th. BMO Capital Markets lifted their price target on shares of Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Cowen and Company reiterated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Biogen has a consensus rating of “Buy” and an average target price of $333.87.
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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