Williams Jones & Associates LLC Cuts Position in Biogen Inc. (BIIB)
Williams Jones & Associates LLC trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,076 shares of the biotechnology company’s stock after selling 897 shares during the quarter. Williams Jones & Associates LLC’s holdings in Biogen were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Botty Investors LLC boosted its stake in shares of Biogen by 75.0% during the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after acquiring an additional 4,812 shares in the last quarter. Savant Capital LLC boosted its position in shares of 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 during the period. BB&T Securities LLC boosted its position in shares of Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after buying an additional 2,598 shares during the period. Vanguard Group Inc. boosted its position in Biogen by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after purchasing an additional 342,568 shares during the last quarter. Finally, Israel Discount Bank of New York acquired a new stake in Biogen during the first quarter valued at $894,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
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Shares of Biogen Inc. (NASDAQ:BIIB) traded up 1.30% on Friday, hitting $337.64. 1,360,299 shares of the stock traded hands. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $338.94. The stock has a market cap of $71.39 billion, a price-to-earnings ratio of 22.16 and a beta of 0.77. The stock has a 50 day moving average price of $318.53 and a 200-day moving average price of $283.34.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.21 EPS. On average, equities research analysts forecast that Biogen Inc. will post $21.54 EPS for the current year.
A number of analysts recently issued reports on BIIB shares. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price objective for the company in a research report on Tuesday, June 27th. Deutsche Bank AG initiated coverage on Biogen in a report on Friday, June 23rd. They set a “buy” rating and a $315.00 target price on the stock. Robert W. Baird restated a “hold” rating and set a $290.00 target price on shares of Biogen in a report on Friday, August 25th. Credit Suisse Group set a $300.00 price objective on Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets lifted their price objective on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 13th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Biogen has a consensus rating of “Buy” and an average target price of $331.49.
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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