Keybank National Association OH lowered its stake in shares of Biogen Inc (NASDAQ:BIIB) by 5.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,870 shares of the biotechnology company’s stock after selling 840 shares during the period. Keybank National Association OH’s holdings in Biogen were worth $5,607,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Hugh Johnson Advisors LLC increased its stake in Biogen by 2.4% in the second quarter. Hugh Johnson Advisors LLC now owns 6,092 shares of the biotechnology company’s stock valued at $1,768,000 after acquiring an additional 145 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Biogen by 2.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,332 shares of the biotechnology company’s stock valued at $1,548,000 after acquiring an additional 147 shares during the period. Greatmark Investment Partners Inc. increased its stake in Biogen by 4.7% in the second quarter. Greatmark Investment Partners Inc. now owns 3,475 shares of the biotechnology company’s stock valued at $1,009,000 after acquiring an additional 155 shares during the period. Patton Albertson Miller Group LLC grew its stake in Biogen by 4.0% during the second quarter. Patton Albertson Miller Group LLC now owns 4,453 shares of the biotechnology company’s stock worth $1,292,000 after buying an additional 172 shares during the last quarter. Finally, 6 Meridian grew its stake in Biogen by 0.9% during the second quarter. 6 Meridian now owns 19,503 shares of the biotechnology company’s stock worth $5,661,000 after buying an additional 176 shares during the last quarter. 86.41% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

BIIB opened at $319.48 on Wednesday. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $64.32 billion, a PE ratio of 14.65, a P/E/G ratio of 1.23 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the firm earned $6.31 earnings per share. Biogen’s revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Biogen Inc will post 25.79 EPS for the current fiscal year.

Several analysts have weighed in on the stock. Cantor Fitzgerald set a $293.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Citigroup upped their price objective on shares of Biogen to $483.00 and gave the stock a “positive” rating in a research note on Thursday, July 26th. UBS Group upped their price objective on shares of Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Robert W. Baird upped their price objective on shares of Biogen from $323.00 to $348.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, Barclays upped their price objective on shares of Biogen from $295.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $383.01.

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Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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