TNB Financial Acquires 1,360 Shares of Biogen Inc. (NASDAQ:BIIB)

TNB Financial increased its position in Biogen Inc. (NASDAQ:BIIB) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,998 shares of the biotechnology company’s stock after buying an additional 1,360 shares during the period. Biogen comprises 1.2% of TNB Financial’s holdings, making the stock its 27th largest position. TNB Financial’s holdings in Biogen were worth $6,512,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BIIB. BlackRock Inc. raised its position in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the period. Norges Bank acquired a new position in shares of Biogen during the fourth quarter valued at approximately $603,929,000. Janus Capital Management LLC raised its position in shares of Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after buying an additional 1,295,540 shares during the period. Finally, Winslow Capital Management LLC acquired a new position in shares of Biogen during the first quarter valued at approximately $345,143,000. 88.70% of the stock is currently owned by institutional investors.

Biogen Inc. (NASDAQ BIIB) traded up 0.90% during trading on Friday, reaching $283.68. The company’s stock had a trading volume of 727,172 shares. The firm has a market capitalization of $59.98 billion, a P/E ratio of 18.62 and a beta of 0.79. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $304.23. The firm has a 50-day moving average price of $281.49 and a 200-day moving average price of $273.98.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.21 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post $21.44 EPS for the current fiscal year.

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BIIB has been the topic of several research analyst reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective on the stock in a report on Tuesday, June 27th. Deutsche Bank AG initiated coverage on Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. Cowen and Company reiterated a “buy” rating and issued a $338.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Barclays PLC reiterated an “overweight” rating and issued a $360.00 price objective (down previously from $380.00) on shares of Biogen in a report on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 price target on Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $328.81.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were 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 directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the sale, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

About Biogen

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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