Bridgewater Associates LP lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,981 shares of the biotechnology company’s stock after selling 466 shares during the quarter. Bridgewater Associates LP’s holdings in Biogen were worth $12,206,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its stake in shares of Biogen by 28.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after purchasing an additional 426,821 shares during the last quarter. Seven Eight Capital LP raised its stake in shares of Biogen by 226.7% during the second quarter. Seven Eight Capital LP now owns 4,900 shares of the biotechnology company’s stock worth $1,330,000 after purchasing an additional 3,400 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Biogen by 3.4% during the second quarter. Empirical Finance LLC now owns 3,838 shares of the biotechnology company’s stock worth $1,042,000 after purchasing an additional 127 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Biogen by 0.7% during the second quarter. Stephens Inc. AR now owns 18,740 shares of the biotechnology company’s stock worth $5,085,000 after purchasing an additional 133 shares during the last quarter. Finally, Symphony Asset Management LLC raised its stake in shares of Biogen by 91.3% during the second quarter. Symphony Asset Management LLC now owns 11,045 shares of the biotechnology company’s stock worth $2,997,000 after purchasing an additional 5,271 shares during the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.

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BIIB has been the subject of several analyst reports. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target for the company. in a research note on Wednesday, June 21st. Deutsche Bank AG initiated coverage on Biogen in a research note on Friday, June 23rd. They set a “buy” rating and a $315.00 price target for the company. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $228.00 to $338.00 in a research note on Wednesday, July 26th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $328.16.

Biogen Inc. (BIIB) opened at 318.46 on Friday. The stock has a 50 day moving average price of $300.47 and a 200-day moving average price of $278.47. The stock has a market capitalization of $67.33 billion, a P/E ratio of 20.90 and a beta of 0.77. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the firm earned $5.21 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post $21.51 EPS for the current year.

In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the company’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 sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. 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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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