Crossmark Global Holdings Inc. lessened its position in Biogen Inc (NASDAQ:BIIB) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,703 shares of the biotechnology company’s stock after selling 1,037 shares during the period. Crossmark Global Holdings Inc.’s holdings in Biogen were worth $4,841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its position in Biogen by 861.3% in the 2nd quarter. Private Advisor Group LLC now owns 22,426 shares of the biotechnology company’s stock valued at $6,528,000 after buying an additional 20,093 shares in the last quarter. Kaizen Advisory LLC grew its position in Biogen by 145.8% in the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 296 shares in the last quarter. Acadian Asset Management LLC grew its position in Biogen by 2,188.6% in the 3rd quarter. Acadian Asset Management LLC now owns 122,418 shares of the biotechnology company’s stock valued at $43,254,000 after buying an additional 117,069 shares in the last quarter. Rathbone Brothers plc grew its position in Biogen by 269.4% in the 3rd quarter. Rathbone Brothers plc now owns 2,708 shares of the biotechnology company’s stock valued at $957,000 after buying an additional 1,975 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Biogen by 13.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 321,622 shares of the biotechnology company’s stock valued at $113,632,000 after buying an additional 37,049 shares in the last quarter. 86.41% of the stock is currently owned by institutional investors and hedge funds.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares in the company, valued at $1,498,350. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

A number of brokerages recently issued reports on BIIB. Barclays increased their target price on shares of Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Cowen reiterated a “buy” rating and issued a $408.00 target price on shares of Biogen in a research report on Tuesday, July 24th. Raymond James reiterated a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. Finally, BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Nine investment 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 an average rating of “Buy” and an average price target of $383.01.

NASDAQ:BIIB opened at $319.48 on Wednesday. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.75 and a quick ratio of 2.46. The stock has a market cap of $64.32 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share 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 company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $6.31 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts expect that Biogen Inc will post 25.79 earnings per share for the current year.

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Biogen 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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