OLD Second National Bank of Aurora cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,768 shares of the biotechnology company’s stock after selling 85 shares during the period. OLD Second National Bank of Aurora’s holdings in Biogen were worth $2,108,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Pathstone Family Office LLC purchased a new position in Biogen during the first quarter worth $102,000. Prentiss Smith & Co. Inc. raised its position in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in Biogen during the first quarter worth $106,000. Independent Portfolio Consultants Inc. raised its position in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. raised its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares in the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.
Biogen Inc. (BIIB) traded down 0.93% during mid-day trading on Friday, hitting $281.77. 814,072 shares of the stock were exchanged. The company has a market capitalization of $59.57 billion, a PE ratio of 18.49 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 stock’s 50-day moving average is $283.10 and its 200 day moving average is $274.37.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the business earned $5.21 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Biogen Inc. will post $21.44 EPS for the current year.
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A number of research analysts have weighed in on BIIB shares. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a research report on Tuesday, June 27th. Deutsche Bank AG assumed coverage on shares of Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Cowen and Company reissued a “buy” rating and issued a $338.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Barclays PLC reissued an “overweight” rating and issued a $360.00 target price (down previously from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Friday, July 14th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $328.81.
In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares in the company, valued at approximately $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 90 days. Company insiders own 0.32% of the company’s stock.
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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