Wedge Capital Management L L P NC boosted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 21.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 145,599 shares of the biotechnology company’s stock after purchasing an additional 25,866 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Biogen were worth $34,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trustcore Financial Services LLC grew its position in Biogen by 152.3% during the second quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock worth $26,000 after buying an additional 67 shares during the period. Resources Investment Advisors Inc. lifted its holdings in shares of Biogen by 500.0% in the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Biogen in the first quarter valued at about $28,000. Private Ocean LLC purchased a new stake in shares of Biogen in the first quarter valued at about $31,000. Finally, JJJ Advisors Inc. purchased a new stake in shares of Biogen in the second quarter valued at about $35,000. Institutional investors own 91.11% of the company’s stock.

Shares of BIIB traded down $5.87 on Wednesday, hitting $227.36. 36,099 shares of the stock traded hands, compared to its average volume of 1,871,920. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. The stock has a market cap of $42.14 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 0.86 and a beta of 0.99. The firm has a 50 day moving average price of $235.76. Biogen Inc has a 1 year low of $216.12 and a 1 year high of $358.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.80 earnings per share. On average, sell-side analysts expect that Biogen Inc will post 32.41 earnings per share for the current fiscal year.

Several analysts have issued reports on BIIB shares. Argus reaffirmed a “hold” rating on shares of Biogen in a report on Tuesday, May 7th. Mizuho reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, July 25th. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Cowen reaffirmed a “buy” rating and issued a $275.00 price target on shares of Biogen in a report on Tuesday, July 30th. Finally, Standpoint Research raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $269.74.

Biogen Company 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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