Banque Pictet & Cie SA increased its stake in Biogen Inc. (NASDAQ:BIIB) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,940 shares of the biotechnology company’s stock after buying an additional 2,122 shares during the quarter. Banque Pictet & Cie SA’s holdings in Biogen were worth $6,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. BlackRock Inc. boosted its holdings in shares of Biogen by 2,762.0% in the 1st 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 during the last quarter. Janus Capital Management LLC boosted its holdings in shares of Biogen by 204.8% in the 1st 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Biogen by 2,288.0% in the 1st 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 during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Biogen in the 1st quarter valued at approximately $345,143,000. Finally, Manning & Napier Advisors LLC boosted its holdings in shares of Biogen by 563.8% in the 2nd 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 during the last quarter. 87.26% of the stock is owned by institutional investors.

In other news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction dated 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 in the company, valued at approximately $7,761,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Biogen Inc. (BIIB) Stake Raised by Banque Pictet & Cie SA” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/09/16/biogen-inc-biib-stake-raised-by-banque-pictet-cie-sa.html.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 321.26 on Friday. The company has a market capitalization of $67.92 billion, a PE ratio of 21.08 and a beta of 0.77. The stock’s 50 day moving average price is $298.79 and its 200 day moving average price is $278.33. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.00.

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, beating the consensus estimate of $4.36 by $0.68. The firm 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 company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.21 EPS. On average, equities research analysts forecast that Biogen Inc. will post $21.48 earnings per share for the current year.

Several equities research analysts have recently commented on the company. UBS AG reissued a “neutral” rating and issued a $285.00 price objective (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Biogen in a report on Thursday, May 25th. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target for the company. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a report on Wednesday, August 16th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $319.00 price target (up previously from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $331.53.

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).

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.