Profund Advisors LLC Has $25.99 Million Position in Biogen Inc. (BIIB)
Profund Advisors LLC decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,789 shares of the biotechnology company’s stock after selling 6,388 shares during the period. Biogen comprises 1.2% of Profund Advisors LLC’s holdings, making the stock its 13th largest holding. Profund Advisors LLC’s holdings in Biogen were worth $25,993,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waldron LP lifted its stake in Biogen by 17.0% in the 1st quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after purchasing an additional 439 shares during the last quarter. HPM Partners LLC bought a new position in Biogen in the 1st quarter valued at approximately $483,000. Checchi Capital Advisers LLC lifted its stake in Biogen by 7.1% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,912 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 127 shares during the last quarter. Elkfork Partners LLC lifted its stake in Biogen by 210.7% in the 1st quarter. Elkfork Partners LLC now owns 11,832 shares of the biotechnology company’s stock valued at $3,235,000 after purchasing an additional 8,024 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Biogen by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,038,169 shares of the biotechnology company’s stock valued at $557,275,000 after purchasing an additional 17,313 shares during the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction 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 approximately $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on 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 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. 0.25% of the stock is currently owned by corporate insiders.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 318.46 on Monday. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $330.00. The firm has a market capitalization of $67.33 billion, a PE ratio of 20.90 and a beta of 0.77. The firm has a 50-day moving average of $300.47 and a 200-day moving average of $278.47.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the business earned $5.21 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts anticipate that Biogen Inc. will post $21.51 earnings per share for the current year.
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Several equities analysts recently commented on the stock. UBS AG reissued a “neutral” rating and issued a $285.00 price objective (up previously from $270.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price objective for the company. in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Deutsche Bank AG reissued a “buy” rating and issued a $319.00 price objective (up previously from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $307.00 price objective on shares of Biogen in a research note on Wednesday, June 14th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $328.16.
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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