Advisory Services Network LLC Has $803,000 Position in Biogen Inc. (BIIB)
Advisory Services Network LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,961 shares of the biotechnology company’s stock after buying an additional 58 shares during the period. Advisory Services Network LLC’s holdings in Biogen were worth $803,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new position in Biogen in the 1st quarter valued at $102,000. Prentiss Smith & Co. Inc. grew its position in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Independent Portfolio Consultants Inc. grew its position in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Winfield Associates Inc. grew its position in Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its position in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
In related news, EVP Susan H. Alexander sold 4,974 shares of the company’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 sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
Shares of Biogen Inc. (BIIB) traded up 0.1517% on Wednesday, hitting $344.9925. The company had a trading volume of 430,734 shares. The firm has a 50 day moving average of $319.52 and a 200-day moving average of $283.51. The firm has a market capitalization of $72.94 billion, a P/E ratio of 22.6388 and a beta of 0.77. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84.
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 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 for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 earnings per share. Biogen’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post $21.57 EPS for the current year.
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A number of research firms recently weighed in on BIIB. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research report on Tuesday. Mizuho upgraded shares of Biogen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $319.00 to $400.00 in a research report on Tuesday. Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $300.00 to $415.00 in a research report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $315.00 target price on shares of Biogen in a research report on Thursday, October 5th. Finally, Raymond James Financial, Inc. lowered shares of Biogen from a “strong-buy” rating to a “market perform” rating and boosted their target price for the stock from $244.28 to $319.00 in a research report on Thursday, September 21st. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $339.66.
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).
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