Freestone Capital Holdings LLC raised its position in Biogen Inc (NASDAQ:BIIB) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,065 shares of the biotechnology company’s stock after purchasing an additional 1,367 shares during the period. Freestone Capital Holdings LLC’s holdings in Biogen were worth $8,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Boston Advisors LLC raised its position in shares of Biogen by 2.9% during the fourth quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 31 shares during the period. BB&T Corp raised its position in shares of Biogen by 988.2% during the fourth quarter. BB&T Corp now owns 21,600 shares of the biotechnology company’s stock worth $6,500,000 after purchasing an additional 19,615 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Biogen during the fourth quarter worth $257,000. Strs Ohio raised its position in shares of Biogen by 0.7% during the fourth quarter. Strs Ohio now owns 119,075 shares of the biotechnology company’s stock worth $35,832,000 after purchasing an additional 844 shares during the period. Finally, Harbour Capital Advisors LLC raised its position in shares of Biogen by 15.6% during the fourth quarter. Harbour Capital Advisors LLC now owns 3,984 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 537 shares during the period. 88.33% of the stock is owned by hedge funds and other institutional investors.

BIIB opened at $230.81 on Thursday. The stock has a market cap of $45.16 billion, a PE ratio of 8.81, a P/E/G ratio of 1.04 and a beta of 1.01. Biogen Inc has a 52-week low of $216.12 and a 52-week high of $388.67. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company posted $6.05 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Biogen Inc will post 29.58 earnings per share for the current year.

A number of brokerages have commented on BIIB. Canaccord Genuity downgraded Biogen from a “buy” rating to a “hold” rating and lowered their target price for the company from $396.00 to $275.00 in a research note on Thursday, March 21st. Wells Fargo & Co downgraded Biogen from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. downgraded Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 target price on the stock. in a research note on Thursday, March 21st. Argus restated a “hold” rating on shares of Biogen in a research note on Tuesday, May 7th. Finally, William Blair downgraded Biogen from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $283.23.

In other news, CEO Michel Vounatsos purchased 4,351 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $231.48 per share, with a total value of $1,007,169.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the completion of the transaction, the director now directly owns 24,701 shares of the company’s stock, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 173,035 shares of company stock valued at $39,759,632. 0.29% of the stock is owned by corporate insiders.

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Biogen Profile

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

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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