Symphony Asset Management LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 91.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,045 shares of the biotechnology company’s stock after acquiring an additional 5,271 shares during the quarter. Symphony Asset Management LLC’s holdings in Biogen were worth $2,997,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its position in shares of Biogen by 93.4% during the second quarter. Riverhead Capital Management LLC now owns 17,268 shares of the biotechnology company’s stock worth $4,686,000 after acquiring an additional 8,340 shares during the last quarter. Oak Ridge Investments LLC boosted its position in shares of Biogen by 4.5% during the second quarter. Oak Ridge Investments LLC now owns 24,478 shares of the biotechnology company’s stock worth $6,642,000 after acquiring an additional 1,060 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Biogen by 8.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,195 shares of the biotechnology company’s stock worth $7,651,000 after acquiring an additional 2,173 shares during the last quarter. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Biogen during the second quarter worth $515,000. Finally, Martingale Asset Management L P boosted its position in shares of Biogen by 2.7% during the second quarter. Martingale Asset Management L P now owns 11,659 shares of the biotechnology company’s stock worth $3,164,000 after acquiring an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,761,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the sale, 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 owned by corporate insiders.

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Biogen Inc. (NASDAQ:BIIB) opened at 319.00 on Thursday. The company has a 50-day moving average of $300.47 and a 200 day moving average of $278.47. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $330.00. The stock has a market cap of $67.45 billion, a P/E ratio of 20.93 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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. The firm had revenue of $3.08 billion for 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 in the previous year, the firm earned $5.21 EPS. Analysts predict that Biogen Inc. will post $21.50 EPS for the current year.

A number of equities analysts recently weighed in on BIIB shares. Deutsche Bank AG started coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price for the company. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price for the company. in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $228.00 to $338.00 in a research report on Wednesday, July 26th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Biogen has an average rating of “Buy” and a consensus price target of $332.67.

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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