Roberts Glore & Co. Inc. IL Buys 70 Shares of Biogen Inc. (BIIB)
Roberts Glore & Co. Inc. IL grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,438 shares of the biotechnology company’s stock after acquiring an additional 70 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Biogen were worth $662,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Biogen by 1.3% during the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares in the last quarter. State Street Corp lifted its position in shares of Biogen by 1.5% during the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Biogen by 4.0% during the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after acquiring an additional 351,224 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.
Biogen Inc. (NASDAQ BIIB) traded up 0.3708% during midday trading on Monday, reaching $328.6942. 430,230 shares of the company’s stock were exchanged. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $332.24. The stock has a market capitalization of $69.50 billion, a price-to-earnings ratio of 21.5693 and a beta of 0.77. The stock’s 50-day moving average is $311.50 and its 200-day moving average is $281.29.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ 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%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.21 earnings per share. On average, equities analysts forecast that Biogen Inc. will post $21.53 earnings per share for the current year.
In related news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on 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 owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were 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 approximately $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
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Several equities research analysts have issued reports on BIIB shares. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $309.45 target price on the stock. in a research report on Wednesday, July 5th. Deutsche Bank AG started coverage on Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price on the stock. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “neutral” rating to a “buy” rating and increased 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 equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $330.66.
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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