Cpcm LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 32.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 783 shares of the biotechnology company’s stock after selling 383 shares during the period. Cpcm LLC’s holdings in Biogen were worth $214,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Berkshire Asset Management LLC PA increased its position in shares of Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock worth $601,000 after buying an additional 189 shares during the period. Wrapmanager Inc. boosted its position in Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 396 shares in the last quarter. Savant Capital LLC boosted its position in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock worth $231,000 after buying an additional 30 shares in the last quarter. Vanguard Group Inc. boosted its position in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Finally, Reilly Financial Advisors LLC boosted its position in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock worth $309,000 after buying an additional 55 shares in the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) opened at 281.77 on Friday. Biogen Inc. has a one year low of $244.28 and a one year high of $304.23. The company’s 50-day moving average price is $283.10 and its 200 day moving average price is $274.37. The company has a market cap of $59.57 billion, a PE ratio of 18.49 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.21 earnings per share. Equities analysts forecast that Biogen Inc. will post $21.44 EPS for the current fiscal year.
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Several brokerages have recently issued reports on BIIB. Morgan Stanley reaffirmed an “equal weight” rating and set a $307.00 price objective on shares of Biogen in a report on Wednesday, June 14th. UBS AG raised Biogen from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Leerink Swann restated a “market perform” rating and set a $338.00 price target (up previously from $304.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a report on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $328.81.
In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the sale, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 in the last three months. 0.32% of the stock is owned by insiders.
Biogen Company Profile
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).
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