Hugh Johnson Advisors LLC trimmed its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,960 shares of the biotechnology company’s stock after selling 55 shares during the period. Hugh Johnson Advisors LLC’s holdings in Biogen were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission.

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

Biogen Inc. (BIIB) opened at 318.46 on Friday. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $330.00. The company’s 50-day moving average is $300.47 and its 200 day moving average is $278.47. The stock has a market cap of $67.33 billion, a PE ratio of 20.90 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion during 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%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.21 EPS. On average, analysts expect that Biogen Inc. will post $21.51 earnings per share for the current fiscal year.

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BIIB has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 31st. BMO Capital Markets reissued a “hold” rating and set a $318.00 price target on shares of Biogen in a research report on Friday, June 2nd. ValuEngine lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and set a $307.00 price target on shares of Biogen in a research report on Wednesday, June 14th. Finally, UBS AG raised shares of Biogen from a “sell” rating to a “neutral” rating and raised their price target for the company from $262.00 to $270.00 in a research report on Monday, June 19th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $328.16.

In related news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Biogen 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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