Cubist Systematic Strategies LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,237 shares of the biotechnology company’s stock after selling 669 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Biogen were worth $1,150,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BIIB. Waldron LP lifted its position in shares of Biogen by 17.0% in the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after acquiring an additional 439 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Biogen by 3.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 488,030 shares of the biotechnology company’s stock valued at $133,437,000 after acquiring an additional 14,320 shares in the last quarter. Eagle Global Advisors LLC lifted its position in shares of Biogen by 16.5% in the first quarter. Eagle Global Advisors LLC now owns 3,028 shares of the biotechnology company’s stock valued at $828,000 after acquiring an additional 428 shares in the last quarter. Rational Advisors LLC lifted its position in shares of Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock valued at $162,000 after acquiring an additional 74 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of Biogen by 18.9% in the first quarter. GHP Investment Advisors Inc. now owns 945 shares of the biotechnology company’s stock valued at $258,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.

Several analysts have recently issued reports on the company. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and upped their price objective for the company from $262.00 to $270.00 in a research report on Monday, June 19th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research report on Wednesday, August 16th. BidaskClub upgraded Biogen from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, BMO Capital Markets restated a “hold” rating and issued a $318.00 price objective on shares of Biogen in a research report on Tuesday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $331.49.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 337.64 on Friday. Biogen Inc. has a 1-year low of $244.28 and a 1-year high of $338.94. The stock has a 50 day moving average price of $318.53 and a 200-day moving average price of $283.34. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 22.16 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $5.21 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post $21.54 earnings per share for the current fiscal year.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the firm’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 transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction dated 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 transaction, 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. 0.25% of the stock is owned by company insiders.

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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).

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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